https://www.taxtmi.com/caselaws?id=180817 The High Court held that the assessment order was invalid as it did not follow the requirement of a draft assessment order for eligible foreign companies under the Income Tax Act, 1961. Consequently, the assessment order, rejection of rectification application, and penalty imposition were set aside. The decision stressed the importance of procedural compliance in tax assessments, particularly regarding draft assessment orders for foreign entities, emphasizing the need for adherence to procedural requirements to uphold fairness and legal compliance. en-us Thu, 18 Feb 2016 00:00:00 +0530 Mon, 13 Jul 2026 17:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180817 The High Court held that the assessment order was invalid as it did not follow the requirement of a draft assessment order for eligible foreign companies under the Income Tax Act, 1961. Consequently, the assessment order, rejection of rectification application, and penalty imposition were set aside. The decision stressed the importance of procedural compliance in tax assessments, particularly regarding draft assessment orders for foreign entities, emphasizing the need for adherence to procedural requirements to uphold fairness and legal compliance. Case-Laws Income Tax Thu, 18 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180817