« From the Courts » Open DEMAT Account in 24 hrs  Karnataka High Court restrains Bengaluru-based Institute of Chartered Tax Practitioners India from enrolling candidates for its courses  Attachment on Cash Credit of Assessee under GST Act: Delhi HC directs Bank to Comply Instructions to Vacate  Income Tax Addition Made Towards Unsubstantiated Share Capital Is Eligible For Section 80-IC Deduction: Delhi High Court  Inordinate delay in income tax appeal hearings  Income Tax leviable on Tuition Fee in the Year of Rendering of Services: ITAT  Supreme Court invoked its power under Article 142 of Constitution to validate notices issued under section 148 as notices issued under section 148A. However the same shall be subject to amended provisions of section 149.  ITAT refuses to stay tax demand on former owner of Raw Pressery brand  Bombay HC sets aside rejection of refund claims by GST authorities  [Income Tax Act] Faceless Assessment Scheme does not take away right to personal hearing: Delhi High Court  Rajasthan High Court directs GST Authority to Unblock Input Tax Credit availed in Electronic Credit Ledger  Sebi-taxman fight over service tax dues reaches Supreme Court «  Service Tax & Central Excise duty required to be paid by... Issue of statutory notice u/s 143(2) mandatory in block... » Block Assessment u/s 158BD March, 26th 2007 The Supreme Court has delivered a judgement in the case of Manish Maheshwari vs ACIT 289 ITR 341 (SC) where it has been held that for invoking the provision of Section 158BD in the case of block assessment, satisfaction must be recorded by the AO of the searched person to the effect that undisclosed income belongs to any person other than the person with respect to whom the search was made and, further, the books of account or other documents are to be handed over to the AO having jurisdiction over such person. It has been held by the Supreme Court that recording of satisfaction is mandatory and in the absence of the same the proceedings under Section 158BD shall be bad in the eye of law.