Dependent Agent PE unresolved for lack of factual inquiry; arm's-length distribution accepted; royalty claim rejected; 15% refund interest (Section 24...
Exemption under s.10(23C)(iiiad) upheld; appeal allowed, interest and dividends excluded from annual receipts, disallowance deleted, capital gains exe...
The HC quashed the final assessment order as ultra vires because the faceless officer issued the final order without serving the statutorily mandated draft assessment order to the eligible assessee, thereby depriving it of the opportunity to file objections before the DRP as required by Sections 144B(1)(xxi)-(xxix) read with Section 144C(15)(b)(i). The court held this procedural non-compliance fatal to the assessment and set aside the final order. The HC declined to remit the matter for any specific direction, leaving open the possibility that the AO may, if legally entitled, initiate the process afresh by serving a proper draft assessment order and proceeding in accordance with law.
The HC quashed the final assessment order as ultra vires because the faceless officer issued the final order without serving the statutorily mandated draft assessment order to the eligible assessee, thereby depriving it of the opportunity to file objections before the DRP as required by Sections 144B(1)(xxi)-(xxix) read with Section 144C(15)(b)(i). The court held this procedural non-compliance fatal to the assessment and set aside the final order. The HC declined to remit the matter for any specific direction, leaving open the possibility that the AO may, if legally entitled, initiate the process afresh by serving a proper draft assessment order and proceeding in accordance with law.
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