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TMI Blog2022 (9) TMI 413X X X X Extracts X X X X X X X X Extracts X X X X ..... in not holding that the impugned intimation dated 27.03.2017, passed under section 143(1) of the Income Tax Act, 1961 ('the Act') is beyond jurisdiction and bad in law. 1.1 That the CIT(A) erred on facts and in law in upholding the action of the Centralized Processing Center ('CPC') in denying exemption of Rs.64,36,343 claimed under section 10(25) in the intimation dated 27.03.2017, passed under section 143(1) of the Act. 1.2 That the CIT(A) failed to appreciate that the aforesaid adjustment made by the CPC while processing return of the appellant fell outside the scope of permissible adjustments specified under section 143(1) of the Act. Without Prejudice 2. That the CIT(A) erred in confirming the action of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... allowed to the appellant by CPC u/s 143(1). However, ld. CIT (A) was not convinced. He referred to the return filed by the assessee and held as under :- "5.1.2 Provisions of section 143(1) the return is processed based on appellant's to claim. Thus, in absence of any registration u/s 12 the system has correctly processed its return u/s 143(1) based on appellant's contention. Moreover, the copy of approval of PF trust submitted during appellate proceedings is not in the name of appellant but in the name of Indo-Euro Chemical Services limited Employees Provident Fund dated March, 1979. Accordingly, it is held that there is no aberration in the order u/s 143(1). Thus, these grounds of appeal are dismissed." 4. Against the above ord ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ground of not filing return in the complete name of the assessee i.e. Indo Euro Chemical Services Limited Employees Provident Fund covered under FPS rather filed the return in the abbreviated name as "IECS Ltd. Employees P.F. Covered under FPS". Moreover, adjustment made by the Revenue Department by denying the exemption claimed by the assessee u/s 10(25)(ii) of the Act cannot be and shall not be subject matter of section 143(1) of the Act. This can only be done u/s 143(3) of the Act. Because u/s 143(1) returned filed by the assessee should be accepted. So, we are of the considered view that when undisputedly assessee has been accorded registration under Rule 3(1) - Part A of the Fourth Schedule of the Act vide order dated 03.03.197 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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