Faceless Assessment Regime: Draft Orders, Taxpayer Objections, and Section 68 Addition Deleted; ESI/PF Late Remittance Disallowed.

Faceless assessment regime introduced new procedures codified u/s 144B for assessments u/ss 143(3), 144, and 147, while assessments u/s 144C (transfer pricing cases) followed existing procedures. Draft assessment orders issued by National Faceless Assessment Centre (NFAC) provide opportunity for assessee's objections before finalization. Jurisdictional Assessing Officer's finalization of assessment order without NFAC involvement was an administrative measure. Dispute Resolution Panel's directions on Section 144B violations not binding on Assessing Officer. Addition u/s 68 on share capital from non-resident Associated Enterprises deleted as identity, creditworthiness, and genuineness established through remittances and previous investments. Belated remittance of employees' ESI/PF contributions disallowed based on Supreme Court's decision in Checkmate Services case. .....

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