“Section 143(1)(a)(iv)”

Section References (mined)Section 143Section 143(1)(a)(iv)322 judgments

The decision most relied on for Section 143(1)(a)(iv) is CIT v. Sunbeam Auto Ltd. (332 ITR 167), cited in 897 judgments on BharatTax.

Leading authorities on Section 143(1)(a)(iv)

CIT v. Sunbeam Auto Ltd.

332 ITR 167 · 2011 · High Court

897

citing judgments

The Commissioner cannot revise an assessment under Section 263 merely because the assessment order does not explicitly reflect an inquiry, or because the Commissioner holds a different opinion. An inquiry, even if considered inadequate, or an assessment based on a plausible view by the Assessing Officer after due examination, does not automatically make the order erroneous or prejudicial to the interests of the revenue.

Tuticorin Alkali Chemicals & Fertilizers Ltd. v. CIT

227 ITR 172 · 1997 · Supreme Court

621

citing judgments

Interest income earned on deposits, particularly before the commencement of business operations or as a requirement for business licensing, is taxable as "income from other sources" under Section 56, and cannot be treated as business income or set off against interest on borrowed funds.

ITO v. D.G. Housing Projects Ltd.

343 ITR 329 · 2012 · High Court

438

citing judgments

For exercising revisional jurisdiction under Section 263, the Commissioner must first find that the Assessing Officer's order is erroneous and unsustainable in law, as this is a condition precedent. An order is not erroneous merely because two views are possible, or if the Commissioner disagrees with the Assessing Officer's permissible view, or to simply remit the matter for further enquiries.

CIT v. Ghanshyam (HUF)

315 ITR 1 · 2009 · Supreme Court

363

citing judgments

Interest received under Section 28 of the Land Acquisition Act, 1894, is considered part of the enhanced compensation on compulsory acquisition of land. It is taxable as 'capital gains' and not separately as 'interest income' under the head Income from Other Sources.

Alembic Chemical Works Co. Ltd. v. CIT

177 ITR 377 · 1989 · Supreme Court

275

citing judgments

Expenditure that provides a commercial advantage of an enduring nature may still be classified as revenue expenditure if its purpose is to facilitate existing trading operations, improve business efficiency, or upgrade existing products, depending on the specific context and objective.

CIT v. T.V. Sundaram Iyengar & Sons Ltd.

222 ITR 344 · 1996 · Supreme Court

223

citing judgments

Unclaimed deposits received in the course of trading transactions and sundry credit balances written back are taxable as business income under Section 41(1) of the Income-tax Act, 1961, as they constitute a cessation of trading liability.

CIT v. Sohana Woollen Mills

296 ITR 238 · 2008 · High Court

180

citing judgments

A mere audit objection, by itself, is insufficient to infer that an Assessing Officer's order is erroneous or prejudicial to the interest of the Revenue for the purpose of initiating revisional proceedings.

CIT v. Mahindra & Mahindra Ltd.

404 ITR 1 · 2018 · Supreme Court

164

citing judgments

The waiver of a loan taken for acquiring capital assets is considered a capital receipt and is not taxable as income under Section 28(iv) of the Income Tax Act. The ruling distinguishes between the waiver of trading liabilities and capital liabilities for tax purposes.

Judgments citing Section 143(1)(a)(iv)

Jasbir Singh Kaberwal, Mumbai vs. ADIT CPC, Bengluru

In the result, this appeal is allowed

ITA 1787/MUM/2021[2019-20]Status: HeardITAT Mumbai30 Aug 2022AY 2019-20

Section 139(1)Section 143Section 143(1)Section 2(24)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of “disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Duck Creek Technologies India LLP, Mumbai vs. ACIT- Circle 26 (1), Mumbai

In the result, the appeal is allowed

ITA 1898/MUM/2021[2018-19]Status: DisposedITAT Mumbai26 Aug 2022AY 2018-19

Section 139(1)Section 143(1)Section 234CSection 36(1)(va)Section 43BSection 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Muppidathy Sivan Thevar, Mumbai vs. DCIT, CPC, Bangalore

In the result, appeals of the assessee are allowed

ITA 1639/MUM/2022[2019-20]Status: HeardITAT Mumbai24 Aug 2022AY 2019-20

Bench: The Due Date Of Filing Of Income Tax Returns U/S.139(1) Of The Act, Could Be Subject Matter Of Adjustment U/S.143(1)(A) Of The Act By The Central Processing Centre (Cpc).

Section 139(1)Section 143Section 143(1)Section 143(1)(a)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Muppidathy Sivan Thevar, Mumbai vs. DCIT, CPC, Bangalore

In the result, appeals of the assessee are allowed

ITA 1638/MUM/2022[2018-19]Status: HeardITAT Mumbai24 Aug 2022AY 2018-19

Bench: The Due Date Of Filing Of Income Tax Returns U/S.139(1) Of The Act, Could Be Subject Matter Of Adjustment U/S.143(1)(A) Of The Act By The Central Processing Centre (Cpc).

Section 139(1)Section 143Section 143(1)Section 143(1)(a)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Radhakrishna Devanna Nayak, Mumbai vs. National Faceless Appeal Centre, Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1613/MUM/2022[2018-19]Status: HeardITAT Mumbai18 Aug 2022AY 2018-19

Bench: Shri Baskaran Br & Shri Pavan Kumar Gadaleradhakrishna Devanna Vs. Nfac, New Delhi Nayak, 249, Matrupriti, Hingwala Lane, Ghatkopar (E), Mumbai-400077. Pan/Gir No. : Aaapn4093Q Appellant .. Respondent Appellant By : None Respondent By : Shri R.P. Veena.Dr Date Of Hearing 23.08.2022 Date Of Pronouncement 25.08.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Cit(A)- National Faceless Appeal Centre (Nfac), Delhi Passed U/S 143(3) & 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal.

For Appellant: NoneFor Respondent: Shri R.P. Veena.DR

Section 143(3)Section 36(1)(va)Section 43Section 44A

taking into account in the computation of total income in the return” as is sine qua non for disallowance of Section 143(1)(a)(iv). When the due date under Explanation to Section 36(1)(va) is judicially held to be not decisive for determining the disallowance in the computation ... 143(3) r.w.s. 147 of the Act, or when no findings were to be given on the scope of permissible adjustments under section 143(1)(a)(iv). That is not the situation before us. We, therefore, see no need to deal with that aspect of the matter at this stage

Hemson Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle 2(1)(2), Mumbai

In the result, all the appeals are allowed in the terms indicated above

ITA 1898/MUM/2022[2013-2014]Status: DisposedITAT Mumbai10 Aug 2022AY 2013-2014

Section 143(1)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Hemson Private Limited, Mumbai vs. Deputy Commissioner of Income Tax, Circle 2(1)(1), Mumbai

In the result, all the appeals are allowed in the terms indicated above

ITA 1897/MUM/2022[2012-13]Status: DisposedITAT Mumbai10 Aug 2022AY 2012-13

Section 143(1)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

M/S. Logicon Alternate Fuels Pvt. Ltd, Mumbai vs. Dy.Commissioner of Income Tax, CPC, Bangalore

In the result, all the appeals are allowed in the terms indicated above

ITA 1842/MUM/2022[2018-19]Status: HeardITAT Mumbai10 Aug 2022AY 2018-19

Section 143(1)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

The Malad Sahakari Bank Ltd, Mumbai vs. NFAC, Delhi

In the result, the present appeal is allowed for statistical purposes

ITA 61/MUM/2022[2018-19]Status: DisposedITAT Mumbai04 Aug 2022AY 2018-19

For Appellant: Shri Ms. Tejasvi PatilFor Respondent: Shri B.K. Bagchi

Section 143(1)Section 143(1)(a)Section 154Section 36Section 36(1)(va)Section 43B

applicable from Assessment Year 2021-2022. Further, the adjustments/additions in respect of employees contribution to PF fell outside the scope of Section 143(1)(a)(iv) of the Act. Section 143(1)(a)(iv) provides for adjustment in the return of income filed by an assessee in case a disallowance ... made by tax auditor in the aforesaid clause constitutes a „disallowance of expenditure indicated in the audit report‟ triggering the provisions of Section 143(1)(a)(iv) of the Act. In any case the issue stands decided in favour of the Assessee by the decision of Mumbai Bench

M/S. Arihant Digiprint, Mumbai vs. ACIT Circle 26(1), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 430/MUM/2022[2019-20]Status: HeardITAT Mumbai29 Jul 2022AY 2019-20

Bench: Shri Pramod Kumar & Shri Pavan Kumar Gadalem/S Arihant Digiprint Vs. Acit, Circle – 26(1) Shed No. 1, Italian Kautilaya Bhavan, Bkc Compound, Goregoan Bandra (E), (E), Mumbai-400063. Mumbai-400051. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aajfa8412H Appellant .. Respondent Appellant By : Shri.Ketan Vajani.Ar Respondent By : Shri.Manoj Sinha.Dr Date Of Hearing 28.07.2022 Date Of Pronouncement 29.07.2022 आदेश / O R D E R Per Pavan Kumar Gadale, Jm: The Assessee Has Filed The Appeal Against The Order Of The Cit(A)-National Faceless Appeal Centre (Nfac), Delhi Passed U/S 143(1) & 250 Of The Act. The Assessee Has Raised The Following Grounds Of Appeal:

For Appellant: Shri.Ketan Vajani.ARFor Respondent: Shri.Manoj Sinha.DR

Section 143(1)Section 143(1)(a)Section 36(1)Section 36(1)(va)Section 43B

The Estate Investment Company Pvt. Ltd, Mumbai vs. ACIT 2(1) (2), Mumbai

In the result, the present appeal is allowed

ITA 2426/MUM/2021[2018-19]Status: DisposedITAT Mumbai28 Jul 2022AY 2018-19

Bench: The Due Date Of Filing Income Tax Return Prescribed Under Section 139(1) Of The Act.

For Appellant: Shri Pankaj K. JainFor Respondent: Shri B.K. Bagchi

Section 139(1)Section 143(1)Section 36Section 36(1)(va)Section 43B

adjustments/additions in respect of employees contribution to ESIC ITA. No. 2426/Mum/2021 Assessment Year: 2018-19 and PF fell outside the scope of Section 143(1)(a)(iv) of the Act. Section 143(1)(a)(iv) provides for adjustment in the return of income filed by an assessee in case ... made by tax auditor in the aforesaid clause constitutes a ‘disallowance of expenditure indicated in the audit report’ triggering the provisions of Section 143(1)(a)(iv) of the Act. In any case the issue stands decided in favour of the Assessee by the decision of Mumbai Bench

Samosaran Yarns Pvt. Ltd, Mumbai vs. DCIT, CPC, Bangalore

In the result, the present appeal is allowed

ITA 2111/MUM/2021[2018-19]Status: DisposedITAT Mumbai28 Jul 2022AY 2018-19

Bench: The Due Date Of Filing Income Tax Return Prescribed Under Section 139(1) Of The Act.

For Appellant: Shri M.B. SanghviFor Respondent: Shri Hoshang B. Irani

Section 139(1)Section 143(1)Section 36Section 36(1)(va)Section 43B

2111/Mum/2021 Assessment Year: 2018-19 adjustments/additions in respect of employees contribution to ESIC and PF fell outside the scope of Section 143(1)(a)(iv) of the Act. Section 143(1)(a)(iv) provides for adjustment in the return of income filed by an assessee in case a disallowance ... made by tax auditor in the aforesaid clause constitutes a ‘disallowance of expenditure indicated in the audit report’ triggering the provisions of Section 143(1)(a)(iv) of the Act. In any case the issue stands decided in favour of the Assessee by the decision of Mumbai Bench

M/S Paper Recycle, Mumbai vs. CIT (Appeal), Delhi

In the result, appeal of the assessee is allowed

ITA 694/MUM/2022[2020-21]Status: DisposedITAT Mumbai26 Jul 2022AY 2020-21

Bench: The Due Date Of Filing Of Income Tax Returns U/S.139(1) Of The Act, Could Be Subject Matter Of Adjustment U/S.143(1)(A) Of The Act By The Central Processing Centre (Cpc).

Section 139(1)Section 143Section 143(1)Section 143(1)(a)Section 36(1)(va)Section 44A

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Greenglobe Fuelsolutions, Mumbai vs. ITO WD 26(1) (1), Mumbai

In the result, appeal is allowed

ITA 1886/MUM/2021[2018-19]Status: DisposedITAT Mumbai15 Jul 2022AY 2018-19

Bench: The Due Date Of Filing Of Return Of Income And, Hence, Allowable As Deduction U/S 36(1)(Va) R.W.S. 43B.

For Appellant: Shri Aditya RamchandraFor Respondent: Shri B.K. Bagchi

Section 139(1)Section 143(1)Section 250Section 36Section 36(1)(va)Section 43B

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

Aaryans Security Force, Mumbai vs. CIT (A) NFAC, Delhi

In the result, this appeal is allowed

ITA 1875/MUM/2021[2019-20]Status: DisposedITAT Mumbai15 Jul 2022AY 2019-20

Section 143Section 143(1)Section 143(1)(a)Section 154Section 36(1)(va)Section 44A

M/S. Oriental Trading Co., Mumbai vs. CIT (A) NFAC, Mumbai

In the result, both the appeals filed by the assessee are allowed

ITA 2329/MUM/2021[2018-19]Status: DisposedITAT Mumbai11 Jul 2022AY 2018-19

Bench: Shri Amit Shukla, Jm & Shri S. Rifaur Rahman, Am आयकरअपीलसं./ I.T.A. No. 2329 & 2330/Mum/2021 (निर्धारणवर्ा / Assessment Year: 2018-19 & 2019-20) Cit(A) - Nfac M/S Oriental Trading Co. Mumbai. 1St Floor, Elite House, Punjab बिधम/ Foundry, Near Classic Studio, Vs. Mira Road East, Mumbai-400 107 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaafo7024L (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Sanjay Parikh, Ld. Ar प्रत्यथीकीओरसे/Respondent By : Shri Nihar Ranjan Samal, Ld. Dr सुनवाईकीतारीख/ : 11.07.2022 Date Of Hearing घोषणाकीतारीख / : 11.07.2022 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: The Aforesaid Appeals Have Been Filed By The Assessee Against The Separate Impugned Order Of Even Date 26.10.2021, Passed By National Faceless Appeal Centre (Nfac), Delhi, In Relation To Adjustment Made U/S 143(1) For The Ay 2018-19 & 2019-20. 2

For Appellant: Shri Sanjay Parikh, Ld. ARFor Respondent: Shri Nihar Ranjan Samal

Section 139Section 143(1)Section 143(1)(a)Section 36(1)(va)Section 43BSection 80

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of “disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so 12 I.T.A. No. 2329 & 2330/Mum/2021 M/S Oriental Trading Co. when the tax auditor is appointed by the assessee himself

DCIT, Circle -1, Thane vs. M/S Accura Pharmaquip Pvt Ltd, Mumbai

In the result, the appeal filed by the revenue stands dismissed

ITA 969/MUM/2022[2018-19]Status: DisposedITAT Mumbai30 Jun 2022AY 2018-19

For Appellant: NoneFor Respondent: Dr. Pratap Narayan Sharma (Sr. AR)

Section 1Section 143(1)Section 143(1)(a)Section 154Section 36(1)(va)Section 43BSection 44A

Jagdamba Service Solution Pvt Ltd, Mumbai vs. CIT(A) (NFAC)- Delhi, Delhi

In the result, the appeal of the assessee is hereby allowed

ITA 913/MUM/2022[2018-19]Status: DisposedITAT Mumbai30 Jun 2022AY 2018-19

For Appellant: NoneFor Respondent: Dr. Pratap Narayan Sharma (Sr. AR)

Section 143(1)Section 154Section 36(1)(va)Section 43BSection 44A

T K Steel Rolling Mills Private Limited, Mumbai vs. DCIT, CPC, Bangaluru

In the result, all the appeals are allowed in the terms indicated above

ITA 892/MUM/2022[2019-20]Status: DisposedITAT Mumbai30 Jun 2022AY 2019-20

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1

T K Steel Rolling Mills Private Limited, Mumbai vs. DCIT, CPC, Bangaluru

In the result, all the appeals are allowed in the terms indicated above

ITA 891/MUM/2022[2018-19]Status: DisposedITAT Mumbai30 Jun 2022AY 2018-19

justifications enough for any disallowance of expenditure under the Act? As we deal with this question, we are alive to the fact section 143(1)(a)(iv) specifically an adjustment in respect of "disallowance of expenditure indicated in the audit report but not taken into account in computing the total ... contentions in this regard that the observations made in the tax audit report, in the light of the specific provisions of Section 143(1)(a)(iv), must prevail- more so when the tax auditor is appointed by the assessee himself, is clearly unsustainable in law. While Section 143(1