Return processing: procedures for adjusting returns and determining tax or refund following specified verification, notices and timelines. Clause 270 prescribes processing of returns by making specified prima facie adjustments apparent from the return-arithmetical errors, incorrect claims evident from the return, late filed loss or deduction disallowances, and audit indicated additions-then computing tax, interest and fee, determining payable or refundable sums after accounting for withholding and other payments, sending intimation of the determination, and granting refunds; prior written or electronic notice and a response period must be provided before adjustments, and certain time limits and special safeguards for specified entities apply.
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.
Return processing: procedures for adjusting returns and determining tax or refund following specified verification, notices and timelines.
Clause 270 prescribes processing of returns by making specified prima facie adjustments apparent from the return-arithmetical errors, incorrect claims evident from the return, late filed loss or deduction disallowances, and audit indicated additions-then computing tax, interest and fee, determining payable or refundable sums after accounting for withholding and other payments, sending intimation of the determination, and granting refunds; prior written or electronic notice and a response period must be provided before adjustments, and certain time limits and special safeguards for specified entities apply.
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