9911796707
TMI Blog2021 (7) TMI 1298X X X X Extracts X X X X X X X X Extracts X X X X ..... The final assessment order dated 30th June, 2021 as well as the demand notice of ₹ 56,76,09,018/- (Rupees Fifty Six Crores Seventy Six Lakhs Nine Thousand and Eighteen only) issued under Section 156 of the Act for the assessment year 2017-18 is quashed and the matter is remitted to the DRP for consideration under Section 144(C) of the Act. Thereafter, the assessment order shall be passed in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under Section 143(3) read with Sections 144C(3) and 144B of the Income Tax Act, 1961 [ the Act ] and the demand notice of ₹ 56,76,09,018/- issued under Section 156 of the Act for the Assessment Year 2017-18. Petitioner also seeks directions to the Respondents not to take any action or initiate further proceedings in furtherance of the impugned assessment order and demand notice. 5. Learn ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pect of time limits of certain compliances and vide para 1 of the circular, time limit to file objections to DRP, where the same were to be filed by 01st June 2021 or thereafter were extended to 31st August, 2021 and the time limit for completion of assessment was extended to 30th September 2021. 8. He states that in view of Circular No.12 of 2021 dated 25th June 2021, the objections under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... same were pending disposal with the DRP, the Respondent No.1 had no jurisdiction to pass the impugned assessment under Section 143(3) read with section 144C (3). He emphasises that the mandate of Section 144C(13) of the Act is that on receipt of the directions of DRP under section 144C(5) of the Act, the Assessing Officer (Respondent No.1 herein) shall complete the assessment in conformity with th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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