When information discovered during search capable of generating satisfaction for issuing a notice cannot become irrelevant for further action

ACIT Vs Manorama Devi  (ITAT Allahabad) Conclusion: Once satisfaction note for initiation of proceedings against the assessee under section 158BD was furnished to assessee, the entire grievance of assessee were disposed off and as per AO, in any case incriminating documents and undisclosed assets belonging to assessee were found and seized during search operations conducted by Revenue on Mr. M and hence proceedings initiated against assessee under section 158BD were valid. Held: Search and seizure operations conducted by Revenue u/s 132(1) against Shri M at his residential and business premis...