Rule 44DAD - Definitions - Income-tax Rules, 1962

1 [44DAD. Definitions For the purposes of this sub-chapter, (i) Dispute Resolution Committee means the Dispute Resolution Committee constituted under section 245MA of the Act; (ii) the specified order in relation to a dispute under section 245MA of the Act means: (a) a draft order as referred to in sub-section (1) of section 144C of the Act; (b) an intimation under sub-section (1) of section 143 of the Act or sub-section (1) of section 200A of the Act or sub-section (1) of section 206CB of the Act, where the assessee or the deductor or the collector objects to the adjustments made in the said order; (c) an order of assessment or reassessment, except an order passed in pursuance of directions of the Dispute Resolution Panel; (d) an order made under section 154 of the Act having the effect of enhancing the assessment or reducing the loss; or (e) an order made under section 201 of the Act or an order made under sub-section (6A) of section 206C of the Act and in respect of which the following conditions are satisfied, namely: (A) the aggregate sum of variations proposed or made in such order does not exceed ten lakh rupees; (B) the return has been furnished by the assessee for the assessment year relevant to such order and the total income as per such return does not exceed fifty lakh rupees; and (C) the order in the case of the assessee is not based on, (I) search initiated under section 132 of the Act or requisition made under section 132A of the Act in the case of the assessee or any other person; or (II) survey carried out under section 133A of the Act; or (III) information received under an agreement referred to in section 90 or 90A of the Act. Explanation: For the purposes of clause (e) of sub-rule (ii), the variation in the specified order relating to default in deduction or collection of tax at source, shall refer to the amount on which tax has not been deducted or collected in accordance with the Act. (iii) the specified conditions in relation to a person who opts for dispute resolution under section 245MA of the Act, means a person in respect of whom: (A) the conditions mentioned in sub-clause (I) of clause (a) of the Explanation to the section 245MA of the Act are satisfied; (B) proceedings under the Black Money (Undisclosed Foreign Income and Assets) and Imposition of Tax Act, 2015 (22 of 2015) have not been initiated for the assessment year for which resolution of dispute is sought. (iv) the specified person for the purposes of section 245MA of the Act shall be a person who fulfills the specified conditions. ] ************* NOTES:- 1. Inserted vide NOTIFICATION NO. 26/2022 dated 05-04-2022