Case Law Details
Welspun Global Brands Ltd Vs DCIT (ITAT Mumbai)
In a recent case between Welspun Global Brands Ltd and the Deputy Commissioner of Income Tax (ITAT Mumbai), the Income Tax Appellate Tribunal (ITAT) addressed the validity of a final assessment order without a draft order under section 144C(1) of the Income-tax Act, 1961.
The Assessee and the Revenue had filed cross-appeals against the order dated 1st July 2022 passed by the Commissioner of Income Tax (Appeals-58, Mumbai) for the assessment year 2011-12.
The Assessee, in its appeal, raised additional legal grounds, asserting that the final assessment order was invalid due to the absence of a draft order under section 144C(1) of the Act.
During the assessment proceedings, the Transfer Pricing Officer (TPO) had made upward adjustments, which the Assessing Officer (AO) sought to incorporate into the final assessment without issuing a draft order under section 144C(1). The Assessee, however, did not challenge this omission before the Dispute Resolution Panel (DRP).
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