https://www.taxtmi.com/caselaws?id=355252 The Supreme Court upheld the Tribunal's decision to dismiss the Tax Appeal challenging the validity of the assessment order under Section 158BC r.w.s 144 of the Income-tax Act due to a delay in recording satisfaction by the Assessing Officer. The Court emphasized the importance of promptly recording satisfaction notes to ensure efficient completion of search assessments. Additionally, the Court upheld the Tribunal's decision to delete the addition of undisclosed income for the block period 1992-93 to 2001-02 and up to 17th April 2001, citing undue delay in recording satisfaction by the Assessing Officer. en-us Mon, 05 Feb 2018 00:00:00 +0530 Thu, 31 May 2018 13:16:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=355252 The Supreme Court upheld the Tribunal's decision to dismiss the Tax Appeal challenging the validity of the assessment order under Section 158BC r.w.s 144 of the Income-tax Act due to a delay in recording satisfaction by the Assessing Officer. The Court emphasized the importance of promptly recording satisfaction notes to ensure efficient completion of search assessments. Additionally, the Court upheld the Tribunal's decision to delete the addition of undisclosed income for the block period 1992-93 to 2001-02 and up to 17th April 2001, citing undue delay in recording satisfaction by the Assessing Officer. Case-Laws Income Tax Mon, 05 Feb 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=355252