Reason to believe for conduct of search, is not required to be disclosed

PDIT Vs Laljibhai Kanjibhai Mandalia (Supreme Court of India)

Held that, in terms of the explanation inserted by the Finance Act, 2017 with retrospective effect from 1.4.1962, search conducted on the reason to believe is not required to be disclosed to any person or any authority or the appellate tribunal.

Facts-

The assessee provide loan to M/s. Goan Recreation Clubs Private Ltd. on the security of the property of another company. The loan was repaid in five instal

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