2022 (4) TMI 21

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....Anand, CIT-DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER:- This appeal by the assessee is preferred against the order dated 29.09.2019 framed u/s 143(3) r.w.s 144C(13) of the Income-tax Act, 1961 [hereinafter referred to as 'The Act'] pertaining to Assessment Year 2016- 17. 2. The assessee has raised the following grounds of appeal: "1. The appellant objects to the ord....

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....ice to the above, the learned ACIT erred in passing draft assessment order without appreciating that the appellant is not an eligible assessee under the provisions of section 144C(15)(b), since the Transfer Pricing Officer has not issued any order under section 92CA(3) of the Act and therefore, the conjoined conditions laid down in section 144C(15)(b) are not fulfilled. 2. Taxability as p....

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....n 244A of the Act till the issuance of refund. 4. Each one of the above grounds of appeal is without prejudice to the other. 5. The appellant reserves the right to amend, alter or add to the grounds of appeal." 3. The first challenge is in respect of validity of the assessment order. 4. The representatives of both the sides were heard at length, the case records carefully p....

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....nded off u/s 288A of the Act 6,70,37,624/- 7. A perusal of the ITR acknowledgement exhibited at page 2 of the paper book shows that total income returned by the assessee is Rs. 6,70,37,624/-. If the computation of tax liability in the draft assessment order is seen with the total income returned by the assessee, it clearly shows that the Assessing Officer did not intend to make any variation....