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2006 (6) TMI 83 - HC - Income Tax'Prima facie adjustment' as laid down under section 143(1)(a) - Whether, Tribunal was justified in law in holding that the disallowance made by the Assessing Officer in respect of 'corporate guarantee obligation' does not come within the purview of 'prima facie adjustment' as laid down under section 143(1)(a) of the Income-tax Act?" – held that under the guise of effecting under section 143(1)(a), the Assessing Officer cannot decide the debatable issues. – Held that in the given circumstances, a prima facie adjustment was made out by the assessee. In the result we deem it proper to answer the questions of law against the Revenue and in favour of the assessee.
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