https://www.taxtmi.com/caselaws?id=446206 The ITAT Mumbai held the assessment order under section 144C null and void because the AO issued demand and penalty notices along with the draft assessment order, which violated mandatory procedures. The draft assessment order is meant only to show cause to the assessee, not to crystallize demand. Following precedents from Atlas Copco India Ltd. and Lion Bridge Technologies, the Tribunal ruled that failure to follow mandatory procedures renders the assessment invalid. Additionally, the Tribunal excluded Eclerx Services Ltd. as a comparable for transfer pricing purposes, finding it functionally different from the assessee's business model. The assessee's appeal was allowed. en-us Thu, 07 Sep 2023 00:00:00 +0530 Mon, 27 Nov 2023 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446206 The ITAT Mumbai held the assessment order under section 144C null and void because the AO issued demand and penalty notices along with the draft assessment order, which violated mandatory procedures. The draft assessment order is meant only to show cause to the assessee, not to crystallize demand. Following precedents from Atlas Copco India Ltd. and Lion Bridge Technologies, the Tribunal ruled that failure to follow mandatory procedures renders the assessment invalid. Additionally, the Tribunal excluded Eclerx Services Ltd. as a comparable for transfer pricing purposes, finding it functionally different from the assessee's business model. The assessee's appeal was allowed. Case-Laws Income Tax Thu, 07 Sep 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446206