Additional income-tax on adjusted returns requires Assessing Officer to specify and recover extra tax when adjustments increase income. The amendment requires the Assessing Officer to specify an additional income tax when adjustments increase declared income or reduce/convert declared losses; the additional tax is calculated and specified in the intimation under sub section (1), and any refund due is to be reduced by the amount of that additional income tax.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Additional income-tax on adjusted returns requires Assessing Officer to specify and recover extra tax when adjustments increase income.
The amendment requires the Assessing Officer to specify an additional income tax when adjustments increase declared income or reduce/convert declared losses; the additional tax is calculated and specified in the intimation under sub section (1), and any refund due is to be reduced by the amount of that additional income tax.
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