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of <h1>Income-tax Act Section 143 Amended: New Sub-section 1B Modifies Intimations Based on Revised Returns from April 1, 1989.</h1> Section 143 of the Income-tax Act is amended to include sub-section (1B), effective from April 1, 1989. This provision applies when an assessee submits a revised return under section 139(5) after receiving an intimation or refund under section 143(1). The intimation will be amended based on the revised return, adjusting any tax, additional tax, or interest. If the amount due increases, the assessee will be notified of the excess payable. If it decreases, the excess paid will be refunded. Refund adjustments will also be made, with excess refunds treated as tax payable, requiring notification to the assessee.
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