https://www.taxtmi.com/caselaws?id=247663 The Court held that the petitioner could validly refer the draft assessment order to the Dispute Resolution Panel (DRP) under Section 144C for international transactions with its Associated Enterprise. Penalty orders under Sections 271G, 271AA, and 271BA were issued but not to be enforced during the DRP reference if the assessee appealed within two weeks. The judgment stressed the importance of timely assessment order framing, separate appeals for penalties, and compliance with legal procedures for international transactions, ensuring a fair process before the DRP. en-us Wed, 30 Apr 2014 00:00:00 +0530 Mon, 19 May 2014 08:16:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247663 The Court held that the petitioner could validly refer the draft assessment order to the Dispute Resolution Panel (DRP) under Section 144C for international transactions with its Associated Enterprise. Penalty orders under Sections 271G, 271AA, and 271BA were issued but not to be enforced during the DRP reference if the assessee appealed within two weeks. The judgment stressed the importance of timely assessment order framing, separate appeals for penalties, and compliance with legal procedures for international transactions, ensuring a fair process before the DRP. Case-Laws Income Tax Wed, 30 Apr 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247663