https://www.taxtmi.com/caselaws?id=465784 The dominant issue was whether, under s.143(1) as it stood prior to the Finance Act, 2008 (w.e.f. 01/04/2008), the AO could, while processing a return, disallow exemption claimed under s.10(38) for long-term capital gains and deny deductions claimed under Chapter VI-A through an intimation. The Tribunal held that such disallowances were beyond the limited scope of permissible prima facie adjustments under the then-existing s.143(1), and the AO had exceeded statutory authority. Consequently, the impugned intimation issued under s.143(1) was quashed and the appeal succeeded on this ground. en-us Mon, 27 Jan 2025 00:00:00 +0530 Thu, 08 Jan 2026 21:13:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465784 The dominant issue was whether, under s.143(1) as it stood prior to the Finance Act, 2008 (w.e.f. 01/04/2008), the AO could, while processing a return, disallow exemption claimed under s.10(38) for long-term capital gains and deny deductions claimed under Chapter VI-A through an intimation. The Tribunal held that such disallowances were beyond the limited scope of permissible prima facie adjustments under the then-existing s.143(1), and the AO had exceeded statutory authority. Consequently, the impugned intimation issued under s.143(1) was quashed and the appeal succeeded on this ground. Case-Laws Income Tax Mon, 27 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465784