COMMISSIONER OF INCOME TAX, FARIDABAD Vs. SABHARWAL ELECTRONICS

JUDGEMENT

(1.) THIS appeal has been preferred by the revenue against order dated 28.3.2007 passed by the Income Tax Appellate Tribunal, Delhi Bench 'I', New Delhi in I.T.(SS)A No. 235/DEL/2005 for the block assessment period from 3.6.1989 to 30.11.1997. The/Department conducted search and seizure on the premises of Shri Inderjeet Singh Sabharwal on 12.3.1999 and recovered some documents relating to the assessee. Thereafter, block assessment was done which was affirmed on appeal by the CIT (Appeal). The Income Tax Appellate Tribunal set aside the assessment on the ground that no satisfaction had been recorded in terms of Section 158BD of the Income -tax Act, 1961 before proceeding for block assessment.

(2.) LEARNED counsel for the revenue has produced the original record containing the satisfaction. It has been explained that before the Tribunal a report was filed to the effect that satisfaction note was not available as per record. This happened as the record was not readily available at that time.