https://www.taxtmi.com/caselaws?id=258751 The High Court held that the Income Tax Appellate Tribunal's decision on the timing of recording satisfaction under Section 158BD was justified. It ruled that the satisfaction note must be prepared before transmitting records to the other Assessing Officer, without imposing a rigid timeframe. The Court found the delayed preparation of the satisfaction note in this case reasonable and compliant with the law. The appeals were allowed in favor of the appellant, remanded to the ITAT for decision on merits, and cross-objections were dismissed without costs. en-us Fri, 10 Apr 2015 00:00:00 +0530 Mon, 20 Apr 2015 10:54:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258751 The High Court held that the Income Tax Appellate Tribunal's decision on the timing of recording satisfaction under Section 158BD was justified. It ruled that the satisfaction note must be prepared before transmitting records to the other Assessing Officer, without imposing a rigid timeframe. The Court found the delayed preparation of the satisfaction note in this case reasonable and compliant with the law. The appeals were allowed in favor of the appellant, remanded to the ITAT for decision on merits, and cross-objections were dismissed without costs. Case-Laws Income Tax Fri, 10 Apr 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258751