https://www.taxtmi.com/caselaws?id=207617 The Tribunal upheld the decision that the block assessment under section 158BD of the Income-tax Act, 1961 was invalid due to the Assessing Officer's failure to record satisfaction within the specified time limit. The appeal by the Revenue and the cross-objection of the assessee were dismissed, emphasizing the necessity of timely recording of satisfaction for the validity of block assessments. This ruling aligns with established legal precedents and underscores the importance of adherence to statutory provisions and timelines in tax assessments. en-us Thu, 10 Dec 2009 00:00:00 +0530 Thu, 30 May 2013 16:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207617 The Tribunal upheld the decision that the block assessment under section 158BD of the Income-tax Act, 1961 was invalid due to the Assessing Officer's failure to record satisfaction within the specified time limit. The appeal by the Revenue and the cross-objection of the assessee were dismissed, emphasizing the necessity of timely recording of satisfaction for the validity of block assessments. This ruling aligns with established legal precedents and underscores the importance of adherence to statutory provisions and timelines in tax assessments. Case-Laws Income Tax Thu, 10 Dec 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207617