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TMI Blog2023 (12) TMI 226X X X X Extracts X X X X X X X X Extracts X X X X ..... enging the order dated 21st November, 2023 passed by the Respondent No. 1 under Section 143(3) read with Section 144C(4) of the Income Tax Act, 1961 [hereinafter referred to as 'the Act'] for Assessment Year 2020-21 as well as the computation sheet and demand notice issued under Section 156 of the Act. Petitioner also challenges the notice dated 21st November, 2023 issued under Section 274 read with Section 270A of the Act initiating penalty proceedings against the Petitioner. Petitioner also seeks directions to the Respondent No. 3-Dispute Resolution Panel ('DRP'), to decide the objections dated 20th October, 2023 in accordance with law. 2. Learned counsel for the Petitioner states that though the Petitioner had preferred its objections a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... igh Court), Anand Nvh Products (P.) Ltd. vs. NFAC, [2021] 282 Taxman 485 (Delhi High Court) and Fiberhome India (P.) Ltd. Vs. National E-Assessment Centre, Additional/Joint/Deputy Assistant Commissioner of Income-tax/Incometax Officer, (2022) 132 taxmann.com 118 (Delhi) wherein this Court set aside the final assessment order and the consequent notices/ computations that were passed without waiting for the directions issued by the DRP as per the mandate of Section 144C of the Act. 5. Issue Notice. Mr. Aseem Chawla, Senior Standing Counsel, accepts notice on behalf of the Respondents. 6. He submits that under Section 144C(2)(b)(ii), the Petitioner on receipt of the draft assessment order was statutorily required to file its objections befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cision. Once the objections have been filed by the assessee against a draft assessment order within the time limit prescribed under Section 144C(2)(b), the rest of the procedure should be followed as prescribed and the final assessment order ought to be passed by the Assessing Officer in accordance with the directions issued by the DRP. 9. This Court is further of the view that no prejudice will be caused to the Respondent-Department if the present petition is allowed and the impugned assessment order is set aside as Respondent-Department would be well within its rights to pass a fresh assessment order post the receipt of direction from the Respondent No. 3-DRP. 10. Accordingly the impugned assessment order dated 21st November, 2023, the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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