9911796707
TMI Blog2021 (5) TMI 1062X X X X Extracts X X X X X X X X Extracts X X X X ..... oceedings shall stand withdrawn - HELD THAT:- Writ petition is disposed of with the following directions: (i) The assessment order dated 26.03.2021 shall be treated as a draft assessment order. (ii) The petitioner will have 30 days time to file its objections with the DRP. The aforementioned timeframe will commence from the date of the receipt of a copy of this order. (iii) The notice of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... er, says that the impugned order dated 26.03.2021 is not only contrary to the provisions of the Income Tax Act, 1961 [in short the Act ], but has also been passed in the breach of the principles of natural justice. 2. According to him, a perusal of the impugned order would show that, based on the input of the Transfer Pricing Officer, a final assessment order was passed, albeit erroneously, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ings u/s. 270A are initiated. Issued notice u/s 274 r.w.s. 270A of the IT Act, 1961 for under reporting of income as mentioned at Para 5 above ... 4. In support of this plea, he has also referred to pages 67 to 69 of the electronic file, wherein the notice of demand, penalty notice and the screenshot of the revenue's portal have been appended. 5. Prima facie, we are of the view th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 10. Mr. Hossain will revert with instructions. In case, Mr. Hossain receives instructions to resist the petition, he will file a counter-affidavit before the next date of hearing. 11. In the interregnum, there shall be a stay on the operation of the impugned order dated 26.03.2021 pertaining to AY 2017-2018. Furthermore, there shall also be a stay on the demand notice dated 26.03.2021 concer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) The assessment order dated 26.03.2021 shall be treated as a draft assessment order. (ii) The petitioner will have 30 days time to file its objections with the DRP. The aforementioned timeframe will commence from the date of the receipt of a copy of this order. (iii) The notice of demand and the notice for initiation of penalty proceedings shall stand withdrawn. (iv). In case the order ..... X X X X Extracts X X X X X X X X Extracts X X X X
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