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2016 (2) TMI 708 - HC - Income TaxAdjustments of interest payable to IFCI and sales tax penalty under section 43B while processing the case under section 143(1)(a) - Held that:- It has been categorically recorded by the Tribunal that adjustments could be made only on the basis of the details available on record. For making such disallowances, it was open for the Assessing Officer to follow the procedure laid down in the Act by issuance of notice under Section 143(2) of the Act. There was nothing wrong in issuing the notice under section 143(2) of the Act and the intimation under section 143 (1)(a) of the Act on the same date. Thus, notice under section 143(2) of the Act could not be termed as invalid. As the adjustments made by the Assessing Officer could not be said to be prima facie adjustments, therefore, the additions made in the intimation issued under Section 143(1)(a) of the Act were not sustainable. The view taken by the Tribunal is in accordance with law which has not been shown to be illegal or perverse in any manner. Thus, the question of law referred is answered against the revenue and in favour of the assessee
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