Amendment of section 143.

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....he following sub-clauses shall be inserted, namely:- "(iii) disallowance of loss claimed, if return of the previous year for which set off of loss is claimed was furnished beyond the due date specified under sub-section (1) of section 139; (iv) disallowance of expenditure indicated in the audit report but not taken into account in computing the total income in the return; ....

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....sub-section (1D), the following sub-section shall be substituted, namely:- "(1D) Notwithstanding anything contained in sub-section (1), the processing of a return shall not be necessary before the expiry of the period specified in the second proviso to sub-section (1), where a notice has been issued to the assessee under sub-section (2) : Provided that such return shall be proces....