https://www.taxtmi.com/caselaws?id=60023 The Tribunal found that the adjustment made by the AO under s. 143(1)(a) of the Act for interest debited but not paid was unjustified. It held that s. 43B only allows disallowance if interest payable during the year is not paid as per the agreement terms. Without specific information on when the interest was payable, s. 43B(d) cannot be invoked. The Tribunal emphasized that adjustments in s. 143(1)(a) proceedings should not exceed the return of income or accompanying documents. The AO should have gathered evidence through proper notices instead of making prima facie adjustments. The appeal was allowed, directing the AO to modify the intimation accordingly. en-us Tue, 29 Apr 2003 00:00:00 +0530 Mon, 03 Jan 2011 13:00:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60023 The Tribunal found that the adjustment made by the AO under s. 143(1)(a) of the Act for interest debited but not paid was unjustified. It held that s. 43B only allows disallowance if interest payable during the year is not paid as per the agreement terms. Without specific information on when the interest was payable, s. 43B(d) cannot be invoked. The Tribunal emphasized that adjustments in s. 143(1)(a) proceedings should not exceed the return of income or accompanying documents. The AO should have gathered evidence through proper notices instead of making prima facie adjustments. The appeal was allowed, directing the AO to modify the intimation accordingly. Case-Laws Income Tax Tue, 29 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60023