https://www.taxtmi.com/caselaws?id=151530 The Tribunal upheld the Commissioner's decision to quash the assessment order due to the lack of recorded satisfaction by the Assessing Officer of the searched person before initiating proceedings under section 158BD of the Income-tax Act. The Tribunal emphasized the necessity of proper recording of satisfaction and found that the initiation of proceedings was invalid due to the failure to meet this requirement. Both the Revenue's appeal and the assessee's cross-objection were rejected, with the Tribunal deeming the latter unnecessary in light of the foundational issue of lack of recorded satisfaction. en-us Mon, 25 Jan 2010 00:00:00 +0530 Thu, 06 Jun 2013 18:36:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151530 The Tribunal upheld the Commissioner's decision to quash the assessment order due to the lack of recorded satisfaction by the Assessing Officer of the searched person before initiating proceedings under section 158BD of the Income-tax Act. The Tribunal emphasized the necessity of proper recording of satisfaction and found that the initiation of proceedings was invalid due to the failure to meet this requirement. Both the Revenue's appeal and the assessee's cross-objection were rejected, with the Tribunal deeming the latter unnecessary in light of the foundational issue of lack of recorded satisfaction. Case-Laws Income Tax Mon, 25 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151530