Where pursuant to order of TPO, Assessing Officer passed a final order under section 143(3) instead of passing a draft assessment order under section 144C, there being violation of procedure prescribed under Act, impugned order was to be set aside and, in such a case, even corrigendum issued by Assessing Officer modifying final order of assessment to be read as a draft assessment order, could not cure defect existing in original order. Failure to comply with statutory requirement under S.144C, defects cannot be cured by issuing corrigendum . The act committed by the Revenue was an illegality, which could not be protected by S.292B of the Act .Accordingly the order was not valid . ( AY.2009 -10)
ACIT v. Vijay Television (P.) Ltd ( 2018) 407 ITR 642 / 304 CTR 149( Mad) (HC) Editorial: Decision of the single judge in Vijay Television (P.) Ltd. v. DRP (2014) 369 ITR 113 / 270 CTR 505 / 225 Taxman 35 (Mad.)(HC) is affirmed .
S.144C : Reference to dispute resolution panel – Transfer Pricing Officer – Draft assessment order- Reference to TPO – Failure to comply with statutory requirement under S.144C, defects cannot be cured by issuing corrigendum – Order of assessment is held to be void . [S.92CA, 143(3), 292B ]