https://www.taxtmi.com/caselaws?id=121049 The Tribunal annulled the block assessment order under section 158BD due to improper satisfaction recording by the AO, as it failed to indicate undisclosed income found during the search. It rejected the contention regarding the assessment status as a curable error under section 292B. The Tribunal dismissed the need for a hearing opportunity before block assessment approval. It remanded the issue of post-dissolution income assessment to the AO for legal consideration. The Tribunal upheld the indivisibility of the contract and the assessee's method of accounting, remanding certain issues to the AO for further verification. The appeal was partly allowed. en-us Thu, 28 Jun 2007 00:00:00 +0530 Thu, 08 Feb 2024 11:45:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=121049 The Tribunal annulled the block assessment order under section 158BD due to improper satisfaction recording by the AO, as it failed to indicate undisclosed income found during the search. It rejected the contention regarding the assessment status as a curable error under section 292B. The Tribunal dismissed the need for a hearing opportunity before block assessment approval. It remanded the issue of post-dissolution income assessment to the AO for legal consideration. The Tribunal upheld the indivisibility of the contract and the assessee's method of accounting, remanding certain issues to the AO for further verification. The appeal was partly allowed. Case-Laws Income Tax Thu, 28 Jun 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=121049