https://www.taxtmi.com/caselaws?id=448348 ITAT Visakhapatnam quashed an assessment order passed under section 153C against a foreign company, ruling it null and void. The tribunal held that the Assessing Officer lacked jurisdiction as no draft assessment order was issued as mandatorily required under section 144C(1) for foreign companies. Following consistency principle and its own precedent for assessment year 2018-19, the tribunal concluded the assessment violated mandatory provisions, making it unsustainable in law. The appeal was decided in favor of the assessee. en-us Wed, 10 Jan 2024 00:00:00 +0530 Tue, 16 Jan 2024 16:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448348 ITAT Visakhapatnam quashed an assessment order passed under section 153C against a foreign company, ruling it null and void. The tribunal held that the Assessing Officer lacked jurisdiction as no draft assessment order was issued as mandatorily required under section 144C(1) for foreign companies. Following consistency principle and its own precedent for assessment year 2018-19, the tribunal concluded the assessment violated mandatory provisions, making it unsustainable in law. The appeal was decided in favor of the assessee. Case-Laws Income Tax Wed, 10 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448348