https://www.taxtmi.com/caselaws?id=3354 The Supreme Court ruled in favor of the Assessee in a case concerning jurisdiction under Section 158BD of the Income Tax Act, 1961 and the validity of a notice issued for block assessment proceedings. The Court emphasized the necessity for the Assessing Officer to record satisfaction of undisclosed income before proceeding against a different person and stressed the importance of issuing proper notices in block assessment proceedings. The vague notice issued to the Assessee and the lack of satisfaction recording led to the Court ruling against the Revenue, highlighting the serious consequences of invoking Chapter XIV-B of the Act. en-us Fri, 22 Feb 2008 00:00:00 +0530 Mon, 05 Sep 2016 10:43:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=3354 The Supreme Court ruled in favor of the Assessee in a case concerning jurisdiction under Section 158BD of the Income Tax Act, 1961 and the validity of a notice issued for block assessment proceedings. The Court emphasized the necessity for the Assessing Officer to record satisfaction of undisclosed income before proceeding against a different person and stressed the importance of issuing proper notices in block assessment proceedings. The vague notice issued to the Assessee and the lack of satisfaction recording led to the Court ruling against the Revenue, highlighting the serious consequences of invoking Chapter XIV-B of the Act. Case-Laws Income Tax Fri, 22 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=3354