2014 (12) TMI 762

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..... ior Counsel For the Respondent : Sri S.Ravi, Senior Counsel JUDGEMENT (per the Hon'ble Sri Justice L. Narasimha Reddy) The respondent is an assessee under the Income Tax Act, 1961 (for short, the Act). In the returns filed by it for the assessment year 1995-96, it claimed deduction of a sum representing the refund of customs duty. The assessing officer made a prima facie adjustment under .....

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..... well known that Section 143 of the Act contemplates two methods of assessment being made vis-vis a return filed by an assessee. If the assessing officer does not find any serious discrepancy or does not disbelieve any facts and figures mentioned therein, he can simply issue an intimation under Section 143 (1) (a) of the Act by making prima facie adjustments. Unless it is followed by the proceedin .....

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..... ction of substantial amount which was in the form of refund of customs duty. A return, wherein such a deduction is claimed, could have been the subject matter of a prima facie adjustment under Section 143 (1) (a) of the Act, if only the assessing officer accepted the version or the contention of the assessee. Once he has decided not to accept that contention, there was no occasion or basis for him .....

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