DY.COMMR.OF I.T vs MARUTI FINANCE — C.A. No. 3977/2014

Summary of C.A. No. 003977/2014 The Supreme Court held that under Income Tax Act Section 158BD, an assessing officer may record satisfaction that undisclosed income belongs to a person other than the searched person at three permissible stages: (a) when initiating proceedings under Section 158BC, (b) during assessment proceedings, or (c) immediately after completion of proceedings. The Court rejected the lower courts' interpretation requiring satisfaction to be recorded before completion of the searched person's assessment, finding the statute's language unambiguous and affording flexibility to assessing officers. Cases were remanded to High Courts for fresh consideration. This case analysis is maintained by casestatus.in based on publicly available court records.