Sufficiency/Adequacy of ‘Reason to Believe’ need not be considered to determine Validity of Search u/s 132: Supreme Court [Read Judgment]

Reason to Believe - determine Validity - Supreme Court - taxscan

The division bench of the Supreme Court has held that sufficiency or adequacy of “reason to believe” need not be considered to determine the validity of search under section 132 of the Income Tax Act 1961. The assessee, Laljibhai Kanjibhai Mandalia provide loan to M/s. Goan Recreation Clubs Private Ltd. on the security of the…

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