AO cannot issue Draft Assessment Order if no Income Variation: Delhi HC

CIT Vs S.A. Chitra Ventures Ltd. (Delhi High Court) Introduction: The recent judgment by the Delhi High Court in the case of CIT Vs S.A. Chitra Ventures Ltd. sheds light on the jurisdiction of Assessing Officers (AOs) in passing draft assessment orders. The court’s ruling clarifies the limitations on AO’s authority in the absence of any variation in income or loss. Detailed Analysis: The case revolves around two appeals filed by the Commissioner of Income Tax – International Taxation questioning the judgment of the Income Tax Appellate Tribunal (ITAT). The key contention pert...