Reason to believe shall not be disclosed to any person/ authority/ Appellate Tribunal as recorded u/s 132

M/s. Rajesh Exports Ltd. Vs ACIT (ITAT Bangalore) Conclusion: Due to amendment made in section 132 by the Finance Act, 2017 w.r.e.f. 1-4-1962 the reason to believe or reason to suspect, as the case may be, shall not be disclosed to any person or authority or appellate Tribunal as recorded, by IT authority under section 132 or 132A, therefore, assessment order passed was not bad in law on account of not furnishing any valid reason for conducting the search. Held: Assessee submitted that there was no valid reason for search which was conducted by department pursuant to which assessment for seven...