SC Holds Assessment Invalid as Mandatory Draft Assessment Order U/s. 144B Was Not Issued

Additional Joint Deputy Assistant Commissioner of Income Tax Officer & Ors. Vs Multiplier Brand Solutions Pvt. Ltd. (Supreme Court of India) The Supreme Court considered an appeal filed by the Revenue against the Bombay High Court’s judgment which had set aside an assessment order passed under the faceless assessment regime on the ground of non-compliance with the mandatory procedure prescribed under Section 144B of the Income-tax Act, 1961. The dispute arose because the assessment order dated 13 May 2021 was passed without issuing a show-cause notice along with a draft assessment or...