DRP Holds Full Authority Over Tax Assessment Changes; Pr. CIT Cannot Use Section 263 to Challenge Draft Proposals.

DRP Holds Full Authority Over Tax Assessment Changes; Pr. CIT Cannot Use Section 263 to Challenge Draft Proposals. https://www.taxtmi.com/highlights?id=51297 Revision u/s 263 - The Dispute Resolution Panel (DRP) has a full authority to direct/propose certain additions or to delete certain additions. Therefore, it is a foolproof mechanism which cannot be doubted by Pr. CIT by invoking Section 263 which is a revisional power in respect of final assessment order or any order but not to a proposal which is called draft assessment order. en-us Sat, 18 Jan 2020 13:26:11 +0530 Sat, 18 Jan 2020 13:25:55 +0530 TaxTMI RSS Generator DRP Holds Full Authority Over Tax Assessment Changes; Pr. CIT Cannot Use Section 263 to Challenge Draft Proposals. https://www.taxtmi.com/highlights?id=51297 Revision u/s 263 - The Dispute Resolution Panel (DRP) has a full authority to direct/propose certain additions or to delete certain additions. Therefore, it is a foolproof mechanism which cannot be doubted by Pr. CIT by invoking Section 263 which is a revisional power in respect of final assessment order or any order but not to a proposal which is called draft assessment order. Highlights Income Tax Sat, 18 Jan 2020 13:26:11 +0530 https://www.taxtmi.com/highlights?id=51297