https://www.taxtmi.com/caselaws?id=796954 Final assessment orders issued while timely objections to a draft assessment order remain pending before the Dispute Resolution Panel cannot stand if they conflict with the Panel's binding directions. An eligible assessee invokes the statutory procedure under Section 144C by filing objections within time, requiring completion of the assessment in conformity with those directions. Failure to intimate the Assessing Officer of the objections was a bona fide lapse that conferred no advantage and did not displace the binding effect of the Panel's directions. Where the transfer-pricing order underlying the assessment was revised pursuant to those directions, the final assessment, consequential demand and penalty-initiation notices were invalid; a fresh assessment was required. en-us Fri, 07 Aug 2026 00:00:00 +0530 Thu, 13 Aug 2026 08:30:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=796954 Final assessment orders issued while timely objections to a draft assessment order remain pending before the Dispute Resolution Panel cannot stand if they conflict with the Panel's binding directions. An eligible assessee invokes the statutory procedure under Section 144C by filing objections within time, requiring completion of the assessment in conformity with those directions. Failure to intimate the Assessing Officer of the objections was a bona fide lapse that conferred no advantage and did not displace the binding effect of the Panel's directions. Where the transfer-pricing order underlying the assessment was revised pursuant to those directions, the final assessment, consequential demand and penalty-initiation notices were invalid; a fresh assessment was required. Case-Laws Income Tax Fri, 07 Aug 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=796954