https://www.taxtmi.com/caselaws?id=327810 Recording of satisfaction was treated as a mandatory precondition for valid proceedings under section 153C, and the assessment could not be sustained without examination of that jurisdictional requirement. Because the Tribunal, as the final fact-finding authority, had not examined the assessment records or found whether the mandatory satisfaction note existed, the matter was remitted for fresh consideration. The remaining issues on gross profit estimation and interest liability were left open to be reconsidered only if required after the jurisdictional issue was decided. The impugned order was set aside and the matter restored to the Tribunal for a fresh decision in accordance with law. en-us Fri, 11 Mar 2016 00:00:00 +0530 Fri, 18 Nov 2016 13:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=327810 Recording of satisfaction was treated as a mandatory precondition for valid proceedings under section 153C, and the assessment could not be sustained without examination of that jurisdictional requirement. Because the Tribunal, as the final fact-finding authority, had not examined the assessment records or found whether the mandatory satisfaction note existed, the matter was remitted for fresh consideration. The remaining issues on gross profit estimation and interest liability were left open to be reconsidered only if required after the jurisdictional issue was decided. The impugned order was set aside and the matter restored to the Tribunal for a fresh decision in accordance with law. Case-Laws Income Tax Fri, 11 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=327810