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Sec. 144C obligates TPO to forward draft assessment order to assessee: ITAT

June 15, 2019[2019] 106 168 (Mumbai - Trib.)

Transfer pricing : As per section 144C, forwarding of a draft of proposed order of assessment by Assessing Officer to an assessee where a variation to his income or loss returned is proposed to be made pursuant to order passed by TPO under sub-section (3) of section 92CA, is statutorily required and cannot be whimsically dispensed with by him; in absence of a draft of proposed order of assessment, assessee would stand divested of his statutory right of objecting to proposed variations before DRP

• Section 144C, provides that forwarding of a draft of proposed order of assessment to an assessee in whose case variation in income or loss returned as a consequence of order of TPO passed under sub-section (3) of Section 92CA is proposed, is not merely an idle formality, but in fact, same is a statutory requirement which cannot be dispensed with - As a matter of fact, it is only after receipt of such draft order that assessee is able to exercise his statutory right of filing his objections, if any, to proposed variations to his returned income or loss with DRP envisaged in sub-section (2) of Section 144C expires.

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