https://www.taxtmi.com/caselaws?id=776342 ITAT Mumbai held that the CPC's adjustments under section 143(1)(a) are limited to those specifically listed in the provision and do not include addition of Long Term Capital Gains credited in the Profit and Loss account. The tribunal found that CPC made unclear adjustments based on accounting entries without proper appreciation of facts, which is impermissible for determining total income under the Act. The CIT(A)'s confirmation of such adjustments was also set aside. The matter was remanded to the AO for fresh examination, directing that only adjustments authorized under section 143(1)(a) be made. The appeal by the assessee was allowed. en-us Mon, 06 Jan 2025 00:00:00 +0530 Fri, 08 Aug 2025 05:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776342 ITAT Mumbai held that the CPC's adjustments under section 143(1)(a) are limited to those specifically listed in the provision and do not include addition of Long Term Capital Gains credited in the Profit and Loss account. The tribunal found that CPC made unclear adjustments based on accounting entries without proper appreciation of facts, which is impermissible for determining total income under the Act. The CIT(A)'s confirmation of such adjustments was also set aside. The matter was remanded to the AO for fresh examination, directing that only adjustments authorized under section 143(1)(a) be made. The appeal by the assessee was allowed. Case-Laws Income Tax Mon, 06 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776342