https://www.taxtmi.com/caselaws?id=461181 The HC set aside the ITAT's order, which had invalidated the assessment due to a procedural lapse concerning the timing of the satisfaction note under section 158BD of the Income Tax Act, 1961. The Court emphasized that, per the SC's ruling in M/s Calcutta Knitwears Ludhiana, the satisfaction note can be recorded at various stages, including immediately after the completion of assessments under section 158BC. The case was remanded to the Tribunal for reevaluation, ensuring alignment with broader legal precedents and providing both parties an opportunity for a hearing. en-us Wed, 03 Sep 2014 00:00:00 +0530 Wed, 19 Mar 2025 18:23:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461181 The HC set aside the ITAT's order, which had invalidated the assessment due to a procedural lapse concerning the timing of the satisfaction note under section 158BD of the Income Tax Act, 1961. The Court emphasized that, per the SC's ruling in M/s Calcutta Knitwears Ludhiana, the satisfaction note can be recorded at various stages, including immediately after the completion of assessments under section 158BC. The case was remanded to the Tribunal for reevaluation, ensuring alignment with broader legal precedents and providing both parties an opportunity for a hearing. Case-Laws Income Tax Wed, 03 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461181