https://www.taxtmi.com/caselaws?id=216660 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision that the proceedings under Section 158BD were invalid due to inordinate delay. Consequently, the addition of Rs. 3,25,000 made by the Assessing Officer was deleted. The Tribunal relied on precedents establishing that belated issuance of notices under Section 158BD is time-barred and without recorded satisfaction, such proceedings are not valid. The decision emphasized the importance of timely action and proper communication of information by tax authorities. en-us Fri, 06 Jul 2012 00:00:00 +0530 Sat, 15 Sep 2012 12:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216660 The Tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s decision that the proceedings under Section 158BD were invalid due to inordinate delay. Consequently, the addition of Rs. 3,25,000 made by the Assessing Officer was deleted. The Tribunal relied on precedents establishing that belated issuance of notices under Section 158BD is time-barred and without recorded satisfaction, such proceedings are not valid. The decision emphasized the importance of timely action and proper communication of information by tax authorities. Case-Laws Income Tax Fri, 06 Jul 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216660