https://www.taxtmi.com/caselaws?id=104026 Prima facie adjustment under section 143(1)(a) cannot be based on material outside the return, including past records or material gathered during regular assessment proceedings, and rectification under section 154 is not justified on that basis. Where the assessee's returned loss remains a loss even after the adjustment, additional tax is not leviable. The disputed adjustment and related additional tax were therefore unsustainable, with the result favouring the assessee. en-us Mon, 08 Nov 1999 00:00:00 +0530 Mon, 27 Feb 2012 13:00:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=104026 Prima facie adjustment under section 143(1)(a) cannot be based on material outside the return, including past records or material gathered during regular assessment proceedings, and rectification under section 154 is not justified on that basis. Where the assessee's returned loss remains a loss even after the adjustment, additional tax is not leviable. The disputed adjustment and related additional tax were therefore unsustainable, with the result favouring the assessee. Case-Laws Income Tax Mon, 08 Nov 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=104026