https://www.taxtmi.com/caselaws?id=304467 Section 144C applies only where the Assessing Officer proposes a prejudicial variation in the returned income or loss. In this matter, the assessee, a foreign company, had no change in the quantum of returned income; the dispute related only to the tax rate under section 115A(1)(a)(ii). That did not meet the statutory condition for issuing a draft assessment order under the DRP procedure. The assessment made on that basis was therefore treated as invalid and quashed, with the assessment annulled for failure to satisfy the mandatory precondition. en-us Wed, 10 Apr 2019 00:00:00 +0530 Wed, 28 Sep 2022 08:01:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=304467 Section 144C applies only where the Assessing Officer proposes a prejudicial variation in the returned income or loss. In this matter, the assessee, a foreign company, had no change in the quantum of returned income; the dispute related only to the tax rate under section 115A(1)(a)(ii). That did not meet the statutory condition for issuing a draft assessment order under the DRP procedure. The assessment made on that basis was therefore treated as invalid and quashed, with the assessment annulled for failure to satisfy the mandatory precondition. Case-Laws Income Tax Wed, 10 Apr 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=304467