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Reference to Dispute Resolution Panel

..... he first instance, forward a draft of the proposed order of assessment (hereafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of October, 2009, any variation in the income or loss returned which is prejudicial to the interest of such assessee. (2) On receipt of the draft order, the eligible assessee shall, within thirty d .....

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..... 2) expires. (5) The Dispute Resolution Panel shall, in a case where any objection is received under sub-section (2), issue such directions, as it thinks fit, for the guidance of the Assessing Officer to enable him to complete the assessment. (6) The Dispute Resolution Panel shall issue the directions referred to in sub-section (5), after considering the following, namely:- (a) draft order; (b) obj .....

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..... any direction under sub-section (5) for further enquiry and passing of the assessment order. 3[Explanation.-For the removal of doubts, it is hereby declared that the power of the Dispute Resolution Panel to enhance the variation shall include and shall be deemed always to have included the power to consider any matter arising out of the assessment proceedings relating to the draft order, notwithst .....

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..... s issued under sub-section (5), the Assessing Officer shall, in conformity with the directions, complete, notwithstanding anything to the contrary contained 2[in section 153 or section 153B], the assessment without providing any further opportunity of being heard to the assessee, within one month from the end of the month in which such direction is received. (14) The Board may make rules for the p .....

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..... the Transfer Pricing Officer passed under sub-section (3) of section 92CA; and (ii) any foreign company.] *************** Notes: 1. Inserted vide Finance (No.2) Act, 2009, w.e.f. 1-4-2009 2. Substituted vide Finance Act, 2012, w.e.f. 01-10-2009, before it was read as:- "in section 153" 3. Inserted vide Finance Act, 2012, w.e.f. 01-04-2009 4. Inserted vide Finance Act, 2012, w.e.f. 01-04- .....

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