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TMI Blog2021 (5) TMI 848X X X X Extracts X X X X X X X X Extracts X X X X ..... ttested affidavits along with the present petition. 2. The captioned application is disposed of with a direction to the applicant/petitioner to deposit the requisite court fees and file the aforesaid documents as well as the affidavits, within three days of the resumption of the normal and usual work pattern by this court. W.P.(C) 5429/2021 & CM No.16388/2021[Application filed on behalf of the petitioner seeking stay on the operation of the draft assessment order dated 24.04.2021] 3. Mr. Deepak Chopra, learned counsel, who appears on behalf of the petitioner, says that the impugned draft assessment order, dated 24.04.2021 has been passed in breach of the principles of natural justice. 3.1. To be noted, the impugned draft assessment orde ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ficer may examine the taxability of the value of 'Demerged Business' of Rs. 2541,84,27,665/- determined by this office. The Assessing Officer may also examine the feasibility of initiating penalty proceedings as mentioned above and also u/s 271(1)(c) of the Act in accordance with Explanation 7 of the same. The assessee has been given adequate opportunity including oral hearing." 3.5. It is argued by Mr. Chopra that, if the second order passed by the TPO is taken into account, and if that is what the AO has done, while passing the impugned draft assessment order, then, no addition could have been made by the AO. In this context, our attention has been drawn to the impugned draft assessment order, appended on pages 76 to 78 of the paper book ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 7,665/- to the petitioner's taxable income, for the AY in issue i.e., 2017-2018. 4. Mr. Ajit Sharma, learned senior standing counsel, who appears on advance notice on behalf of the respondents/revenue, says that the writ petition ought not to be entertained, as notwithstanding the fact that two orders, as noticed above, have been passed by the TPO, the grievance qua them can be articulated by the petitioner before the Dispute Resolution Panel [in short 'DRP']. 4.1. In other words, Mr. Sharma contends that, since an alternate remedy is available to the petitioner, the writ petition ought not to be entertained. 5. As is evident from a perusal of the impugned draft assessment order, the total addition made on account of international transa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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