Final Assessment Order passed despite pending objections before DRP: Delhi HC sets aside the Order

Jackson Square Aviation Ireland Limited Vs ACIT Circle INT Tax 2(1)(2) & Anr (Delhi High Court) In a recent ruling Hon’ble Delhi HC set-aside the assessment order which was passed when objection before DRP were pending. Assessment Order was passed u/s 143(3) read with 144C(3) without waiting for the decision of Dispute Resolution Panel (DRP) which was under challenge on the ground that it was passed without jurisdiction. Show cause notice u/s 148A(b) was issued for AY 2022-23 calling upon the assessee to show cause as to why the receipts should not be taxed as interest income during ...