COMMISSIONER OF INCOME TAX-III vs. M/S. CALCUTTA KNITWEARS, LUDHIANA

C.A. No.-003958-003958 - 2014Supreme Court12 March 201434 pages
For Petitioner: B. V. BALARAM DASFor Respondent: KAVITA JHA
AI SummaryRemanded

What did the Supreme Court hold?

The Supreme Court held that the satisfaction note under Section 158BD can be recorded at various stages, including immediately after the completion of assessment proceedings for the searched person. The Court found that the lower authorities had misinterpreted the provisions regarding the timing of the satisfaction note.

What were the facts?

A search operation under Section 132 revealed documents pertaining to the assessee firm. The assessing authority issued a notice under Section 158BD based on a satisfaction note recorded after the assessment of the searched person was completed.

What were the issues?

At what stage of proceedings under Chapter XIV-B must the assessing authority record satisfaction for issuing a notice under Section 158BD? Whether the satisfaction note can be recorded after the completion of assessment of the searched person.

Which sections of the Income-tax Act were involved?

Section 132,Section 158BC,Section 158BD,Section 158BE,Section 260A

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Page 1 JUDGMENT 1 REPORTABLE IN THE SUPREME COURT OF INDIA CIVIL APPELLATE JURI ICTION CIVIL APPEAL NO. 3958 OF 2014 (SPECIAL LEAVE PETITION(C.)NO.10542 OF 2011) COMMISSIONER OF INCOME TAX - III APPELLANT VERSUS M/S.CALCUTTA KNITWEARS, LUDHIANA RESPONDENT WITH C.A.NO.3959 OF 2014 @ S.L.P.(C)NO.11943 of 2011 WITH C.A.NO.3960 OF 2014 @ S.L.P.(C)NO.17662 of 2011 WITH C.A.NO.3961 OF 2014 @ S.L.P.(C)NO.17656 of 2011 WITH C.A.NO.3962 OF 2014 @ S.L.P.(C)NO.17661 of 2011 WITH C.A.NO.3963 OF 2014 @ S.L.P.(C)NO.2804 of 2012 WITH C.A.NO.3964 OF 2014 @ S.L.P.(C)NO.2805 of 2012 WITH C.A.NO.3965 OF 2014 @ S.L.P.(C)NO.5264 of 2012 WITH C.A.NO.3966 OF 2014 @ S.L.P.(C)NO.5265 of 2012 WITH C.A.NO.3967 OF 2014 @ S.L.P.(C)NO.5266 of 2012 WITH C.A.NO.3968 OF 2014 @ S.L.P.(C)NO.7574 of 2012 WITH C.A.NO.3969 OF 2014 @ S.L.P.(C)NO.7575 of 2012 WITH C.A.NO.3970 OF 2014 @ S.L.P.(C)NO.7576 of 2012 WITH C.A.NO.3971 OF 2014 @ S.L.P.(C)NO.7577 of 2012 WITH C.A.NO.3972 OF 2014 @ S.L.P.(C)NO.9721 of 2012 WITH C.A.NO.3973 OF 2014 @ S.L.P.(C)NO.11460 of 2012 WITH C.A.NO.3974 OF 2014 @ S.L.P.(C)NO.12111 of 2012 WITH C.A.NO.3

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