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TMI Blog2022 (7) TMI 1474X X X X Extracts X X X X X X X X Extracts X X X X ..... assessee and returned income has been assessed as such. It is also not in dispute that the assessee is an eligible assessee in terms of section 144C(15)(b)(ii) of the Act, but then, there is no change in the figure of income returned by the assessee vis a vis income assessed by the Assessing Officer. As pointed out by the ld. DR, Finance Bill 2020 proposes to make issuance of draft assessment order in the case of eligible assessees mandatory even when there is no variation in income or loss returned by the assessee but this amendment may take effect from 01.04.2020. We hold the assessment order to be time barred and since the assessment order itself has been held to be time barred, all the issues raised by the Revenue in its appeals ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stances of the case and in law, CIT(A)-43 erred in not quashing the demand notice dated February 15, 2018 issued by the Ld. AO consequent to the final order passed by Ld. AO, as the same was one without jurisdiction, null, void and unenforceable, being barred by limitation. 3. The Appellant craves leave to add, alter, amend and / or withdraw any of the grounds of appeal hereinabove at or before the hearing of the appeal and to submit any papers, documents or statements so as to enable the Hon ble Income Tax Appellate Tribunal to dispose-off this appeal in accordance with law. 5. Briefly stated, the facts of the case are that draft assessment order u/s 144C(1) r.w.s 143(3) of the Income-tax Act, 1961 [hereinafter referred to as &# ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is no quarrel. The returned income of Rs. 27,38,71,150/- was assessed as such with the only difference that the Assessing Officer denied the benefit of India Cyprus DTAA and taxed the income @ 20% u/s 115A of the Act. 11. On these undisputed facts, all that has to be decided is as to whether the Assessing Officer was justified in passing a draft assessment order when there is no variation in income or loss returned which is prejudicial to the interest of the assessee. 12. Section 144C(1) of the Act provides that : The Assessing Officer shall, notwithstanding anything to the contrary contained in this Act, in the first instance, forward a draft of the proposed order of assessment to the eligible assessee if he proposes to make, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rs or Commissioners of Income-tax. DRP has nine months to pass directions which are binding on the AO. It is proposed that the provisions of section 144C of the Act may be suitably amended to:- (A) include cases, where the AO proposes to make any variation which is prejudicial to the interest of the assessee, within the ambit of section 144C; (B) expand the scope of the said section by defining eligible assessee as a non-resident not being a company, or a foreign company. This amendment will take effect from 1st April, 2020. Thus, if the AO proposes to make any variation after this date, in j case of eligible assessee, which is prejudicial to the interest of the assessee, the above provision shall be applicable. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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