Allowing the petition the Court held that once objections have been filed by assessee against a draft assessment order within time limit prescribed under section 144C(2)(b), final assessment order should have been passed by Assessing Officer in accordance with directions issued by DRP. Matter remanded. (AY. 2020-21)
Pepsico India Holdings (P.) Ltd v. NFAC (2024) 297 Taxman 76/465 ITR 622 (Delhi)(HC)
S. 144C : Reference to dispute resolution panel-Draft assessment order-Once objections have been filed by assessee against a draft assessment order within time limit prescribed under section 144C(2)(b), final assessment order should have been passed by Assessing Officer post receipt of direction from DRP-Matter remanded. [Art. 226]