Topic
ITAT Jaipur rules that failure to issue draft assessment order u/s 144C(1) for non-resident assessee renders assessment void ab initio. Key procedural compliance takeaways.
ITAT Mumbai rules that failure to issue a mandatory notice under Section 143(2) during reassessment proceedings renders the entire assessment void ab initio. The tribunal held that issuing a demand notice alongside a draft assessment order under Section 144C without adhering to procedural safeguards constitutes a jurisdictional error, impacting all taxpayers undergoing reassessment.
ITAT Mumbai rules that draft assessment orders under Section 144C of the IT Act cannot legally include demand notices or penalty initiation, setting a precedent for procedural compliance in transfer pricing assessments. The decision invalidates assessment orders that bundle these elements, impacting multinational corporations and tax authorities.
ITAT Delhi rules that the absence of a draft assessment order under Section 144C(1) of the Income Tax Act vitiates the final assessment, even in remand proceedings. The decision reinforces strict procedural compliance for transfer pricing cases, impacting tax authorities and assessees alike.