2007 (11) TMI 69

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....evenue raising the following substantial question of law : "(1) Whether the Assessing Officer can impose additional tax when the loss is reduced after adjustment ?" 2 The assessee filed its return showing the loss. Thereafter, an intimation  was issued under section 143(1) (a) of the Income-tax Act, 1961 on July 16, 1991, showing certain adjustment thereby reducing the loss declared by ....

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....to answer the question of law in favour of the Revenue. 5 However, we have noticed from the records that the respondent-assessee has raised a contention before the Commissioner of Income-tax (Appeals) that the very issuance of intimation under section 143(1) (a) of the Income-tax Act, was not maintainable in view of the notice issued by the Assessing Officer on June 26, 1991, under section 143(....