https://www.taxtmi.com/caselaws?id=186196 The Appellate Tribunal ITAT Ahmedabad ruled in favor of the appellant, quashing the block assessment and penalty imposed under sections 158BD and 158BFA of the Income Tax Act. The tribunal found the notice under section 158BD invalid due to a delay in issuance and held that the penalty under section 158BFA was also invalid following the quashing of the assessment. The decision was based on legal arguments and precedents, leading to the favorable outcome for the appellant. en-us Fri, 28 May 2010 00:00:00 +0530 Wed, 13 Sep 2023 10:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=186196 The Appellate Tribunal ITAT Ahmedabad ruled in favor of the appellant, quashing the block assessment and penalty imposed under sections 158BD and 158BFA of the Income Tax Act. The tribunal found the notice under section 158BD invalid due to a delay in issuance and held that the penalty under section 158BFA was also invalid following the quashing of the assessment. The decision was based on legal arguments and precedents, leading to the favorable outcome for the appellant. Case-Laws Income Tax Fri, 28 May 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=186196