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of <h1>Dispute Resolution Committee under Section 245MA(2A) impacts income assessment; AO has one month to act.</h1> The resolution of disputes by the Dispute Resolution Committee (DRC) under Section 245MA(2A) of the Income Tax Act requires the assessed income of the applicant to be determined. This process may lead to penalty proceedings and the issuance of a demand notice under Section 156. Upon receiving the DRC's order, the Assessing Officer (AO) must either pass or modify the assessment, reassessment, or recomputation order in accordance with the DRC's directions. This action must be completed within one month from the end of the month in which the DRC's order is received.
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