2019 (11) TMI 461

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....ed by 13 days. The Revenue has filed an affidavit explaining the reasons which led to the late filing of the appeal. We are satisfied with such reasons. The delay is condoned and the appeal is admitted for hearing on merits. 3. Shorn off unnecessary details, it is seen that the assessee filed its return declaring total income of Rs. 56,99,014/-, inter alia, claiming deduction u/s.10B of the Act. Apart from the transfer pricing addition amounting to Rs. 5.61 crore, the AO disallowed the claim of deduction u/s.10B amounting to Rs. 7,91,16,965/-. The assessee approached the Dispute Resolution Panel (DRP) against the draft order. The DRP, vide its direction dated 15-12-2015, accepted the case of the assessee qua the transfer pricing additio....

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.... notwithstanding anything to the contrary contained in this Act, in the first instance, forward a draft of the proposed order of assessment (hereafter in this section referred to as the draft order) to the eligible assessee if he proposes to make, on or after the 1st day of October, 2009, any variation in the income or loss returned which is prejudicial to the interest of such assessee.' Sub-section (2) of section 144C states that the assessee shall either file his acceptance to the AO on the variations proposed in the draft order or file his objections, if any, with the DRP. In case, the assessee accepts the variation in the draft order or no objections are received within 30 days, then sub-section (3) states that: 'The Assessing Officer s....