Allowing the petition the Court held that; when there is a order of setting aside of an assessment order with requirement of Assessing Officer/TPO to undertake a fresh exercise of determining arm’s length price, failure to pass a draft assessment order, would violate section 144C(1)which is not a curable defects .Accordingly the petition was allowed. (AY. 2008 -09)
Nokia India (P.) Ltd. v. (2018) 259 Taxman 92 / 98 taxmann.com 373 (Delhi)(HC) Editorial: SLP of revenue is dismissed ,ACIT v. Nokia India (P.) Ltd. (2018) 259 Taxman 91 (SC)
S. 144C : Reference to dispute resolution panel–Remand- Direction by the ITAT to AO/TPO to undertake a fresh exercise of determination of Arm’s length price -Failure to pass draft assessment order would violative of S.144C(1) hence bad in law -Not curable defects. [S. 92C, 153(2A), 254(1), 292B]