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of <h1>Finance Act 2021 amends section 245MA, empowering Assessing Officers to enforce Dispute Resolution Committee decisions.</h1> The amendment to section 245MA of the Act, introduced in the Finance Act, 2021, establishes a Dispute Resolution Committee (DRC) for specified individuals opting for dispute resolution. Currently, the section lacks provisions for the Assessing Officer to implement the DRC's resolutions. The proposed amendment introduces a new sub-section allowing the Assessing Officer to pass orders reflecting the DRC's decisions. Taxpayers can choose between the Dispute Resolution Panel under section 144C or the DRC under section 245MA. The amendment, effective April 1, 2022, ensures that the final order aligns with the DRC's resolution for eligible assessees.
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