https://www.taxtmi.com/caselaws?id=237555 The High Court dismissed the appeal by the Revenue challenging the Assessment order dated 31st December, 2008 under Section 158 BD read with Section 254 of the Income Tax Act, 1961. The court upheld the tribunal's decision regarding the lack of jurisdiction and failure to record satisfaction by the assessee during the initiation of proceedings under Section 158 BD. The appellant's misunderstanding of a previous order led to the incorrect assumption that fresh block assessment proceedings could be initiated. The judgment clarified that the block assessment order was not set aside for procedural reasons but for substantive grounds. en-us Mon, 05 Aug 2013 00:00:00 +0530 Mon, 30 Sep 2013 21:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=237555 The High Court dismissed the appeal by the Revenue challenging the Assessment order dated 31st December, 2008 under Section 158 BD read with Section 254 of the Income Tax Act, 1961. The court upheld the tribunal's decision regarding the lack of jurisdiction and failure to record satisfaction by the assessee during the initiation of proceedings under Section 158 BD. The appellant's misunderstanding of a previous order led to the incorrect assumption that fresh block assessment proceedings could be initiated. The judgment clarified that the block assessment order was not set aside for procedural reasons but for substantive grounds. Case-Laws Income Tax Mon, 05 Aug 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=237555