For assessment year 2018-19, the Dispute Resolution Panel issued directions to the Assessing Officer on 13.06.2022, in consequence of which the final assessment order was required to be passed on or before 31.07.2022. The Transfer Pricing Officer gave effect to the directions by order dated 22.07.2022. The Assessing Officer, however, passed the final assessment order and issued the computation sheet and demand notice only on 20.12.2022, about five months after the due date. The Court held that the timelines in section 144C are mandatory in character and leave the Assessing Officer no discretion, the final order having to be passed within one month from the end of the month in which the directions are received; the order dated 20.12.2022, being beyond that period, together with the computation sheet and demand notice, was barred by limitation and was quashed. (AY. 2018-19)(SJ)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 144C: Reference to dispute resolution panel-Time limit-Final assessment order to be passed within one month from the end of the month in which the directions of the Dispute Resolution Panel are received-Order passed about five months late-Timeline is mandatory-Order, computation sheet and demand notice quashed. [S. 143, 144B, 156]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-64388","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-gKw","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"","_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64388","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=64388"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64388\/revisions"}],"predecessor-version":[{"id":64389,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/64388\/revisions\/64389"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=64388"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=64388"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=64388"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}