2004 (8) TMI 83

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....ls, i.e., I.T.As. Nos. 76, 217 and 216 of 2003, relating to the assessment years 1994-95, 1995-96 and 1996-97 in the assessee's own case, involving common questions of law and facts. While processing the returns of the assessee under section 143(1)(a) of the Income-tax Act, 1961 (for short "the Act"), the Assessing Officer made prima facie adjustments by adding the income of two minor sons of the....

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....e Act. Counsel for the Revenue contended that in view of the amendment of section 64(1A) of the Act by the Finance Act, 1992, with effect from April 1, 1993, the income of the minor sons of the assessee was assessable in her hands even though the same did not arise out of the gifts made by her. He further pointed out that after issuing intimation under section 143(1)(a) of the Act, the Assessing ....

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.... assessment years under consideration. The said provision is as under: "143. (1)(a) Where a return has been made under section 139, or in response to a notice under sub-section (1) of section 142,- (i) if any tax or interest is found due on the basis of such return, after adjustment of any tax deducted at source, any advance tax paid and any amount paid otherwise by way of tax or interest, then,....

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....ts or documents, is prima facie admissible but which is not claimed in the return, shall be allowed; (iii) any loss carried forward, deduction, allowance or relief claimed in the return, which, on the basis of the information available in such return, accounts or documents, is prima facie inadmissible, shall be disallowed: A perusal of the above clearly shows that the adjustments permissible hav....