AO cannot finalize assessment before completion of DRP mechanism: Karnataka HC

CIT International Taxation Vs Cisco Systems Services B.V. (Karnataka High Court) The Karnataka High Court dismissed three appeals filed by the Revenue and upheld the orders of the Income Tax Appellate Tribunal (ITAT), which had quashed the reassessment orders passed against the assessee for Assessment Years 2011-12, 2012-13, and 2013-14. The central issue before the Court was whether the Assessing Officer (AO) had followed the mandatory procedure prescribed under Section 144C of the Income-tax Act, 1961, while passing reassessment orders in the case of an eligible assessee. The assessee, a com...