Dismissing the appeal of the assessee the Court held that non-recording of reasons independently by Assessing Authority of searched person, could not be said to be fatal for initiating proceedings under section 158BD against assessee. (BP.1-4 1995 to 13-9 2001)
V. Vijayalakshmi (Smt.) v. DCIT (2019) 265 Taxman 71 (Mag) (Mad.) (HC)
S. 158BD : Block assessment-Undisclosed income of any other person-Non-recording of reasons independently by Assessing Authority of searched person, could not be said to be fatal for initiating proceedings. [S. 132, 158BC]