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Taxbuzz | Failure to follow mandatory provisions of section 144C – Whether fatal to assessment? September 12, 2024
Published in: TaxBuzz
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We are pleased to share with you a copy of our in-house publication – “TaxBuzz”, wherein we have analysed the recent judgment of the Delhi High Court in Sumitomo Corporation India (P) Ltd and other connected matters. The High Court has settled the controversy regarding the validity of final assessment order passed in the case of ‘eligible assessee’, without first passing draft order of assessment.
The request of the Revenue to set aside the matter to the assessing officer, for correcting the mistake by rewinding the clock and allowing the assessing officer another opportunity to pass draft assessment order under section 144C of the Income Tax Act, 1961, has also been effectively dealt with in the judgment.
We trust that you will find our TaxBuzz useful and look forward to receiving your valuable feedback.
For any clarification, please write to:
Mr. Aditya Vohra
Associate Partner
[email protected]
