Revision u/s 263 - as argued no draft assessment order u/s 144C ...

Income Tax

April 6, 2024

Revision u/s 263 - as argued no draft assessment order u/s 144C prior to passing the final assessment order passed - The Tribunal analyzed the circulars cited by the PCIT and concluded that they were explanatory in nature and did not invoke the powers of Section 119 of the Act. As such, non-compliance with these circulars did not render the assessment order erroneous. Moreover, the Tribunal cited precedents to establish that a non-est and void order cannot be subject to revisionary proceedings under Section 263. Therefore, the exercise of jurisdiction by invoking clause (c) of Explanation 2 of Section 263(1) of the Act was deemed inappropriate.

View Source

← Previous Next →

Revision u/s 263 - as argued no draft assessment order u/s 144C ...

Income Tax

April 6, 2024

You may also like:

Validity of assessment u/s 144C - Non passing draft Assessment Order - TP Adjustment - AO merely captioned the final Assessment Order as Draft Assessment Order along...

TP Adjustment - Non follow procedure u/s.144C - Non referring to TPO - only draft assessment order passed - Draft assessment order cannot be treated as final assessment...

Transfer pricing - Addition in final assessment - AO is not permitted to make any addition which is not contained in the draft assessment order and approved by the DRP u/s 144C

Assessment u/s 144C - it is for the revenue to devise its own means and ways to correct the software and pass the final assessment order in accordance with the law. In...

Effect of non-passing draft assessment order u/s 144C(1) - even if assessee had accepted addition to be made on account of TP adjustment, during assessment proceedings,...

Revision u/s 263 - assessment order as contrary to the draft assessment order - The remedy against unjust disallowances, on merits, lies in the appellate process and not...

Assessment u/s 144C - Non passing of draft assessment order - a final assessment order without passing of the draft assessment order, being not in accordance with law,...

Validity of assessment u/s 144C - Whether the passing of the draft assessment order as prescribed under section 144C(1) of the Act is mandatory or not? -...

Obligation to pass a draft assessment order u/s 144C (1) - Petitioner asserts that even in partial remand proceedings from the Tribunal, the Assessing Officer (A.O.) is...

Validity of assessment order passed u/s 153(1) - Period of limitation - In this case, since, the Assessing Officer cannot invoke jurisdiction u/s.144C(1) and pass draft...

Quick Updates: