Madras HC Sets Aside Draft Assessment Issued u/s 144C Due to Failure to Address Objections, Remands Matter

The Madras High Court set aside a draft assessment issued under Section 144C of the Income Tax Act due to the authorities’ failure to address the taxpayer’s objections. The court found that the assessing officer had not given due consideration to the objections raised by the taxpayer, leading to procedural lapses. The matter was remanded back for fresh consideration. This case underscores the importance of due process in tax assessments and the need for tax authorities to adequately address taxpayers’ concerns during the assessment process.