Dispute Resolution Panel (DRP) - Section 144C

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Assessee [ Section 144C(15) ] From w.e.f. 01.09.2024  • Any person in whose case the variation referred to in section 144C(1) arises as a consequence of the order of the Transfer Pricing Officer passed under section 92CA(3); and • Any non-resident not being a company, or a foreign company; • such eligible assessee shall not Include  • person referred to in section 158BA(1) or other person referred to in section 158BD ^[ Inserted vide Finance (No. 2) Act, 2024 ]. Upto 30.08.2024 • Any person in whose case the variation referred to in section 144C(1) arises as a consequence of the order of the Transfer Pricing Officer passed under section....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... to AO & DRP. Completion Assessment and Time Limit  • The Assessing Officer shall complete the assessment on the basis of the draft order, if- • (a) the assessee intimates to the Assessing Officer the acceptance of the variation; or • (b) no objections are received within the period specified in u/s 144C(2).  [ Section 144C(3) ] • The Assessing Officer shall, notwithstanding anything contained in section 153 or section 153B, pass the assessment order under 144C(3) within one month from the end of the month in which,- • (a) the acceptance is received; or • (b) the period of filing of objections u/s 144C(2) expires. [ Section 144C(4) ] Time....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ome-tax authority and report the result of the same to it. [ Section 144(7) ] Opportunity of being heard - No direction u/s 144C(5) shall be issued unless an opportunity of being heard is given to the assessee and the Assessing Officer on such directions which are prejudicial to the interest of the assessee or the interest of the revenue, respectively. [ Section 144(11) ] Draft Order Issued in Time Final Assessment Governed by DRP Timeline [ Section 144(4A)  and (4B) ] [ Inserted vide Section 8 of the Finance Act, 2026 w.e.f. 01.04.2009 ] • Notwithstanding anything contained in any judgment, order or decree of any court, or section 153, for the removal of doubts, • it is hereby clarified for the pur....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....¢ DRP consider any matter arising out of the assessment proceedings relating to the draft order, notwithstanding that such matter was raised or not by the eligible assessee. • If the members of the Dispute Resolution Panel differ in opinion on any point, the point shall be decided according to the opinion of the majority of the members. Binding Nature - Every direction issued by the Dispute Resolution Panel shall be binding on the Assessing Officer. [ Section 144(10) ] Final Order After DRP Directions • Upon receipt of the directions issued under sub-section (5), • the Assessing Officer shall, in conformity with the directions, complete, notwithstanding anything to the contrary contained&nb....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... issued under sub-section (5), shall be governed and shall always be deemed to have been governed by the provisions of sub-sections (12) and (13). [ Section 144C(13B) ] [ Inserted vide Section 8 of the Finance Act, 2026 w.e.f. 01.10.2009 ] Rule-making Power [ Section 144C(14) ] • CBDT can frame rules for: • DRP functioning • Efficient disposal Faceless DRP Scheme for Efficient and Transparent Dispute Resolution [ Section 144C(14B) ] • The Central Government may make a scheme, by notification in the Official Gazette, for the purposes of issuance of directions by the dispute resolution panel, so as to impart greater efficiency, transparency and accountability by- â€....