Held that it is mandatory for Assessing Officer to pass a draft assessment order under section 144C during remand proceedings. Final assessment order passed without passing a draft assessment order as mandated under section 144C is not tenable. Order is beyond limitation period hence bad in law. (AY.2003-04,to 2011-12, 2017-18, 2018-19, 2020-21)
PCIT v. Sumitomo Corporation India (P.) Ltd. (2024) 471 ITR 688 /166 taxmann.com 55 (Delhi) (HC)
S. 144C : Reference to dispute resolution panel-Remand proceedings-Assessment order passed without passing a draft assessment is not tenable-Limitation period is expired. [S.92C, 153(3), 154(4), 260]
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