Assessing Officer passed draft assessment order proposing addition on account of treating lease rentals received by assessee from leasing of aircraft as interest income and proposed penalty as well.\u00a0 Aggrieved by draft assessment order, assessee filed its objections with DRP.\u00a0 Notwithstanding that assessee\u2019s objections were pending before DRP, Assessing Officer passed impugned final assessment order re-computing income of assessee on being satisfied that assessee had under-reported its income. On writ allowing the petition the Court held that\u00a0 since objections had been filed and were pending before DRP, Assessment Order passed by Assessing Officer in ignorance of said objections is\u00a0 set-aside. (AY. 2022-23)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 144C : Reference to dispute resolution panel-Pendency of objection-Order is set aside. [Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-54825","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-egh","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54825","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54825"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54825\/revisions"}],"predecessor-version":[{"id":54826,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54825\/revisions\/54826"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54825"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54825"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54825"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}