Allowing the  appeal the Tribunal held that issuance of a valid draft order was the sine qua non for S. 144C of the  Act to apply. The passing of a draft assessment order is a jurisdictional requirement and if the Assessing Officer passes such an order in the name of a non-existing person, there can never be a valid draft order in the eyes of law, and the entire proceeding inherently would be without jurisdiction. The draft assessment order has legal connotations as it lays the foundation for any prospective reduction in the income of the assessee or creates a tax liability over and above the returned income. Thus, it is not merely a procedural step in the assessment proceedings. A draft assessment order in the name of an eligible assessee provides the requisite jurisdiction to the Assessing Officer under section 144C(1) . If there is a mistake while complying with such a jurisdictional requirement, the mistake cannot be termed a procedural irregularity or mistake rectifiable under S.  292B . Followed  Fedex Express Transportation and Supply Chain Services (India) (P.) Ltd. v. Dy. CIT (IT A. No. 857/Mum/2016 dt. 11-7 –  2019)  ( AY.2015-16)