https://www.taxtmi.com/caselaws?id=64358 The Tribunal quashed the assessment order due to two primary issues: the lack of recorded satisfaction by the AO under Section 158BD and the improper service of notice under Section 143(2) beyond the prescribed period. The Tribunal found that the required satisfaction was not duly recorded before initiating proceedings, rendering the assessment legally unjustified. Additionally, the notice under Section 143(2) was issued late, violating mandatory requirements. Consequently, the Tribunal allowed the assessee's cross-objection, declaring the assessment order null and void, and dismissed the Revenue's appeal as infructuous. en-us Fri, 07 Sep 2007 00:00:00 +0530 Mon, 05 Feb 2024 14:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64358 The Tribunal quashed the assessment order due to two primary issues: the lack of recorded satisfaction by the AO under Section 158BD and the improper service of notice under Section 143(2) beyond the prescribed period. The Tribunal found that the required satisfaction was not duly recorded before initiating proceedings, rendering the assessment legally unjustified. Additionally, the notice under Section 143(2) was issued late, violating mandatory requirements. Consequently, the Tribunal allowed the assessee's cross-objection, declaring the assessment order null and void, and dismissed the Revenue's appeal as infructuous. Case-Laws Income Tax Fri, 07 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64358