For the purpose of Section 158BD a satisfaction note is sine qua non -SC

CA Sandeep Kanoi

Honourable SC has held in the case of CIT vs. Calcutta Knitwears that for the purpose of Section 158BD of the Act a satisfaction note is sine qua  non and must be prepared by the assessing officer before he transmits the records to the other assessing  officer who has jurisdiction over such other person. The satisfaction note could be prepared at either of the following stages: (a) at the time of or along with the initiation of proceedings again

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