https://www.taxtmi.com/caselaws?id=462360 ITAT Chennai held that adjustments made under Section 143(1) without issuing mandatory communication to the assessee as required under the first proviso to Section 143(1)(a) are unsustainable in law. The AO failed to provide details of communication proposing adjustments, citing CPC-2.0 Project transition phase. The tribunal directed deletion of additions made through the intimation. Additionally, ITAT ruled that for determining concessional tax rate eligibility, notional income items under INDAS standards should not be included in gross turnover computation. The assessee qualified for 25% tax rate as turnover remained below Rs.250 crores after excluding notional income items. Appeal allowed. en-us Wed, 28 Jun 2023 00:00:00 +0530 Mon, 16 Jun 2025 08:38:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=462360 ITAT Chennai held that adjustments made under Section 143(1) without issuing mandatory communication to the assessee as required under the first proviso to Section 143(1)(a) are unsustainable in law. The AO failed to provide details of communication proposing adjustments, citing CPC-2.0 Project transition phase. The tribunal directed deletion of additions made through the intimation. Additionally, ITAT ruled that for determining concessional tax rate eligibility, notional income items under INDAS standards should not be included in gross turnover computation. The assessee qualified for 25% tax rate as turnover remained below Rs.250 crores after excluding notional income items. Appeal allowed. Case-Laws Income Tax Wed, 28 Jun 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=462360