https://www.taxtmi.com/caselaws?id=313598 ITAT Mumbai held that an assessment order passed under section 144C(1) without first issuing a draft assessment order is invalid and unsustainable. Following precedents from Bombay HC in Exxon Mobil Company and Delhi HC in Turner International India, the Tribunal emphasized that section 144C(1) mandates passing a draft assessment order before the final assessment order. Since the AO failed to comply with this mandatory procedural requirement while adjudicating transfer pricing issues on remand, the final assessment order was quashed as invalid. en-us Mon, 20 Feb 2023 00:00:00 +0530 Tue, 23 Apr 2024 19:43:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=313598 ITAT Mumbai held that an assessment order passed under section 144C(1) without first issuing a draft assessment order is invalid and unsustainable. Following precedents from Bombay HC in Exxon Mobil Company and Delhi HC in Turner International India, the Tribunal emphasized that section 144C(1) mandates passing a draft assessment order before the final assessment order. Since the AO failed to comply with this mandatory procedural requirement while adjudicating transfer pricing issues on remand, the final assessment order was quashed as invalid. Case-Laws Income Tax Mon, 20 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=313598