9911796707
TMI Blog2024 (5) TMI 222X X X X Extracts X X X X X X X X Extracts X X X X ..... ner of Income Tax - International Taxation questions the correctness of the judgment rendered by the Income Tax Appellate Tribunal [ITAT] dated 21 July 2022 and proposes the following questions of law for our consideration:- ITA 606/2023 a) Whether the ITAT has erred in law by holding that the Final Assessment Order passed on 15 February 2018 in this case is barred by limitation as there was no variation in the income of the assessee without appreciating the fact that the deviation in the departmental stand from the stand adopted by the assessee has led to additional tax burden on the assessee which is prejudicial to the interest of the assessee and the same is akin variation which mandates the Draft Assessment Order to be taken to Disp ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowing the appeal of the assessee without going into the merits of case as to whether the assessee was eligible to claim benefit of the India Cyprus DTAA? c) Whether the ITAT has erred in law by allowing the appeal of the assessee without appreciating the intent of the legislature behind introduction of Section 144C of the Act as per Finance Act, 2009 vide which all variations proposed on or after 01 October 2009 which is prejudicial to the interest of the eligible assessee mandates the AO to forward the Draft Order under Section 144C of the Act? 2. While ITA 607 of 2023 pertains to Assessment Year [AY] 2014-15, ITA 606 of 2023 relates to AY 2015-16. For the purposes of brevity, we propose to notice the facts as obtaining in ITA 607 o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee would be entitled to claim the benefits of Article 11 of the DTAA. 6. Aggrieved by the aforesaid, the appellants here preferred an appeal before the ITAT. In that appeal, the assessee also filed cross objections principally contending that since the changes as suggested by the AO originally would not impact the income or loss returned, the provisions of Section 144C of the Finance Act, 2020 would not be attracted and the AO would have no authority or jurisdiction to frame a Draft Assessment Order in terms of that provision. It is this objection which has ultimately come to be accepted by the ITAT in terms of the impugned order. 7. The ITAT has noticed that undisputedly the respondent was an eligible assessee in terms of Section 14 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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