Permitting assessee to withdraw objections can’t be interpreted as DRP’s direction on merit

IN THE ITAT MUMBAI BENCH ‘L’ Bank of America NA Versus Assistant Director of Income-tax (IT) IT Appeal No. 7100 (Mum.) of 2010 [Assessment year 2006-07] OCTOBER 30, 2012 ORDER Vijay Pal Rao, Judicial Member This appeal by the assessee is directed against the assessment order dated 20.8.2010 passed u/s 144C(143) r.w.s 143(3) in pursuant to the directions of the DRP u/s 144C(5) of the IT Come dated 13th July 2010 for the Assessment Year 2006-07. 2. The assessee has raised various grounds in this appeal. However, first we will take up the issue of validity and mainta...