Non-Forwarding of draft Assessment Order specified u/s 144C(1) of Income Tax Act: ITAT quashed Assessment order [Read Order]

ITAT - ITAT Delhi - Income Tax - Assessment order - Draft Assessment Order - Tax assessment order issues - taxscan

The Delhi bench of Income Tax Appellate Tribunal ( ITAT ) recently quashed assessment order passed under Section 153C of the Income Tax Act, 1961 due to non-filing of draft assessment order specified under Section 144(1) of the Income Tax Act, 1961. The Assessee Newbury Holding Two Ltd is a non-resident corporate entity, BVI based company…

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