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| The Tax Publishers2020 TaxPub(DT) 1089 (Del-Trib) : (2020) 206 TTJ 0344 : (2020) 078 ITR (Trib) 0204 INCOME TAX ACT, 1961
Section 144C
Draft assessment Order, dated 31-3-2014 could not be treated as final assessment order simply by way of issuing corrigendum on 5-5-2014 and since no final assessment order had been passed as on 31-3-2014 and only draft assessment order has been passed, therefore, said draft order has no consequence and was null and void.
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Assessment - Validity - CIT(A) upheld transfer pricing adjusmtent on the basis of draft assessment order -
Assessee having entered into transactions with AE abroad challenged order passed by AO upholding TP adjustment on the ground that CIT(A) erred in upholding draft assessment Order, dt. 31-3-2014 as valid which was served on assessee without determination of tax payable by assessee.Held: Draft assessment Order, dated 31-3-2014 could not be treated as final assessment order simply by way of issuing corrigendum on 5-5-2014 and since no final assessment order had been passed as on 31-3-2014 and only draft assessment order has been apssed, therefore, said draft order has no consequence and was null and void.
Relied:Oracle India (P) Ltd. v. ACIT, after taking note of the Vijay Television (P) Ltd. v. Dispute Resolution Panel & Ors., (2014) 369 ITR 113 (Mad.) : 2014 TaxPub(DT) 3520 (Mad-HC) and Turner International India (P) Ltd. v. DCIT, (2017) 398 ITR 177 (Del.) : 2017 TaxPub(DT) 1685 (Del-HC).
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2011-12
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