Assessing Officer after passing the draft assessment order raised a query of depreciation on goodwill by issuing a notice under section 142 and passed the final assessment order, since the earlier draft assessment order was silent about said query, final order passed without satisfactory compliance with provisions of section 144B(1)(xvi) was quashed. (AY. 2018-19)
ACME Housing India (P.) Ltd. v NFAC (2023) 291 Taxman 1 (Bom)(HC)
S. 144B : Faceless Assessment–Draft assessment–Depreciation– Goodwill-Assessment order passed without satisfactory compliance with provisions of section 144B(1)(xvi) was quashed. [S. 32, 142, 144B(1)(xvi), Art. 226]