HC Quashes Assessment; AO Must Consider DRP’s Views

OmniActive Health Technologies Limited Vs Assessment Unit (Bombay High Court) The Bombay High Court has nullified an assessment order issued to OmniActive Health Technologies Limited for the Assessment Year 2020-21. The company contested the order, arguing that the Assessing Officer (AO) prematurely finalized the assessment despite the company having filed objections with the Dispute Resolution Panel (DRP). OmniActive stated that Section 144C(2) of the Income Tax Act, 1961, allows assessees 30 days to file objections with the DRP and simultaneously inform the AO. Due to an oversight, OmniActiv...