https://www.taxtmi.com/caselaws?id=22111 HC interpreted s.143(1A)(a) of the Income-tax Act to apply only where, after prima facie adjustments under s.143(1), a positive taxable income and consequent tax liability arise. Additional tax at 20% is leviable only when adjustments increase tax payable, not when returned loss remains a loss even after adjustments. In the present case, despite substantial losses being accepted, the Revenue levied additional tax under s.143(1A). HC held this to be impermissible, ruling that no additional tax could be charged when the resultant figure post-adjustment is still a loss, and quashed the demand raised on the assessee. en-us Fri, 25 Oct 1991 00:00:00 +0530 Tue, 09 Dec 2025 10:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22111 HC interpreted s.143(1A)(a) of the Income-tax Act to apply only where, after prima facie adjustments under s.143(1), a positive taxable income and consequent tax liability arise. Additional tax at 20% is leviable only when adjustments increase tax payable, not when returned loss remains a loss even after adjustments. In the present case, despite substantial losses being accepted, the Revenue levied additional tax under s.143(1A). HC held this to be impermissible, ruling that no additional tax could be charged when the resultant figure post-adjustment is still a loss, and quashed the demand raised on the assessee. Case-Laws Income Tax Fri, 25 Oct 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22111