Section 143 Assessment. - Taxpublishers.in

SUBSCRIBE FOR FULL CONTENT


The Tax Publishers [1][143. Assessment. [2][(1) Where a return has been made under Section 139, or in response to a notice under sub-section (1) of Section 142, such return shall be processed in the following manner, namely : (a) the total income or loss shall be computed after making the following adjustments, namely : (i) any arithmetical error in the return; [3][* * ] (ii) an incorrect claim, if such incorrect claim is apparent from any information in the return; [4][(iii) disallowance of loss claimed, if return of the previous year for which set off of loss is claimed was furnished beyond the due date specified under sub-section (1) of Section 139; (iv) [5][disallowance of expenditure or increase in income indicated] in the audit report but not taken into account in computing the total income in the return; (v) disallowance of deduction claimed under [6][section 10AA or under any of the provisions of Chapter VI-A under the heading C.Deductions in respect of certain incomes, if], the return is furnished beyond the due date specified under sub-section (1) of Section 139; or (vi) addition of income appearing in Form 26AS or Form 16A or Form 16 which has not been included in computing the total income in the return: Provided* that no such adjustments shall be made unless an intimation is given to the assessee of such adjustments either in writing or in electronic mode: Provided further that the response received from the assessee, if any, shall be considered before making any adjustment, and in a case where no response is received within thirty days of the issue of such intimation, such adjustments shall be made;] [7][Provided also that no adjustment shall be made under sub-clause (vi) in relation to a return furnished for the assessment year commencing on or after the 1st day of April, 2018;] SUBSCRIBE FOR FULL CONTENT

The Tax Publishers

[1][143. Assessment.

[2][(1) Where a return has been made under Section 139, or in response to a notice under sub-section (1) of Section 142, such return shall be processed in the following manner, namely :

(a) the total income or loss shall be computed after making the following adjustments, namely :

(i) any arithmetical error in the return; [3][* * *]

(ii) an incorrect claim, if such incorrect claim is apparent from any information in the return;

[4][(iii) disallowance of loss claimed, if return of the previous year for which set off of loss is claimed was furnished beyond the due date specified under sub-section (1) of Section 139;

(iv) [5][disallowance of expenditure or increase in income indicated] in the audit report but not taken into account in computing the total income in the return;

(v) disallowance of deduction claimed under [6][section 10AA or under any of the provisions of Chapter VI-A under the heading C.Deductions in respect of certain incomes, if], the return is furnished beyond the due date specified under sub-section (1) of Section 139; or

(vi) addition of income appearing in Form 26AS or Form 16A or Form 16 which has not been included in computing the total income in the return:

Provided that no such adjustments shall be made unless an intimation is given to the assessee of such adjustments either in writing or in electronic mode:

Provided further that the response received from the assessee, if any, shall be considered before making any adjustment, and in a case where no response is received within thirty days of the issue of such intimation, such adjustments shall be made;]

[7][Provided also that no adjustment shall be made under sub-clause (vi) in relation to a return furnished for the assessment year commencing on or after the 1st day of April, 2018;]