Assessment of person not searched can be carried out u/s 158BD only by issue of proper notice

Search operation was carried out in one M/s. G.B. & Company under section 132 of the Income Tax Act, 1961. Though the premises of the assessee were also searched during search operations, the same were in the capacity of an employee of the said company and not in individual capacity. Subsequently, the assessee was visited with notice under section 158BC of the Act. Assessment framed on such basis came to be anulled by the Tribunal by the impugned judgement. The Tribunal noted that the assessee not being searched person, if at all, could

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