https://www.taxtmi.com/caselaws?id=305438 An order passed under section 172(4) of the Income-tax Act, though part of the summary mechanism for shipping income of non-residents, was treated as an assessment order in substance. The Tribunal noted that section 144C applies to eligible assessees, including a foreign company, where a prejudicial variation is proposed, and therefore the draft assessment order procedure had to be followed. As no draft order had been issued, the assessment could not stand in its existing form. The matter was restored to the Assessing Officer for fresh assessment after complying with section 144C. en-us Thu, 21 Nov 2019 00:00:00 +0530 Sun, 04 Dec 2022 18:20:21 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305438 An order passed under section 172(4) of the Income-tax Act, though part of the summary mechanism for shipping income of non-residents, was treated as an assessment order in substance. The Tribunal noted that section 144C applies to eligible assessees, including a foreign company, where a prejudicial variation is proposed, and therefore the draft assessment order procedure had to be followed. As no draft order had been issued, the assessment could not stand in its existing form. The matter was restored to the Assessing Officer for fresh assessment after complying with section 144C. Case-Laws Income Tax Thu, 21 Nov 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305438