https://www.taxtmi.com/caselaws?id=17433 The court dismissed the writ petitions challenging the levy of additional income-tax under section 143(1A) when adjustments result in a lesser loss. It clarified that the provision does not levy additional income-tax but calculates a sum based on adjustments. The court upheld the provision as valid, emphasizing the importance of imposing penalties to curb defaults and highlighting the availability of remedies under sections 154 and 264 for challenging adjustments. en-us Thu, 12 Sep 1996 00:00:00 +0530 Tue, 22 Sep 2009 13:32:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17433 The court dismissed the writ petitions challenging the levy of additional income-tax under section 143(1A) when adjustments result in a lesser loss. It clarified that the provision does not levy additional income-tax but calculates a sum based on adjustments. The court upheld the provision as valid, emphasizing the importance of imposing penalties to curb defaults and highlighting the availability of remedies under sections 154 and 264 for challenging adjustments. Case-Laws Income Tax Thu, 12 Sep 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17433