Comparison of section 270 "Assessment" between the Income-Tax Act, 2025 (as passed) and the Income-Tax Bill, 2025 (as originally introduced)

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....cope Statutory hook: Clause 270 in the Income Tax Bill, 2025 (Procedure for assessment). The clause governs processing of returns made u/s 263 or in response to a notice u/s 268(1), providing: (i) specified grounds on which the total income or loss may be adjusted at the return-processing stage, (ii) computation and adjustment of tax/interest/fee and refund, (iii) communication/intimation requirements, (iv) limited enquiry powers via notices, and (v) special sequencing when dealing with certain exempt/non-profit entities (cross-references to section 11, section 45(3)(a), Schedule III, section 351). Definitions: The clause defines "an incorrect claim apparent from any information in the return" (sub-section (5)(a)(i)-(iii)). Other terms use....

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....nt to afford procedural fairness at the processing stage. The three-month limit for notices and nine-month limit for intimation indicate legislative emphasis on expedition and finality at the return-processing stage. Exceptions/Provisos Carve-outs and conditions: Before adjustments under sub-section (1)(a), the clause requires that the assessee be intimated of such adjustments in writing or electronically and be allowed to respond; if no response within thirty days, adjustments may be made. Sub-section (4) bars sending an intimation after nine months from the end of the financial year in which the return is made. Sub-section (9) bars serving the notice under sub-section (8) after three months from the end of the financial year in which th....

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....s/approved entities), Schedule III (Table Sl. No. 23-25), section 351 (registered non-profit violations), section 45(3)(a) (entities such as universities/colleges). The text mandates procedural sequencing so that approvals/notifications relevant to exempt entities are handled (intimation to Central Government/prescribed authority, withdrawal/rescission) prior to making assessment. No other Rules/Notifications/Circulars are referenced in the provision itself. Differences between the two provisions and practical impact * Terminology and placement of certain phrases: The Act version (Document 1) consistently uses phrasing such as "an intimation shall be sent" and "the acknowledgement of the return shall be deemed to be the intimation" while....

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....ub-sections (11)-(15)) with cross-references to sections 11, 45(3)(a), 351(1) etc., that are substantially similar to Document 2 but Document 1 includes explicit provisos about procedure (e.g., corrigenda note referencing "previous" corrected). * Practical impact: Substantive protections and procedural sequencing appear materially similar in both; Document 1 adds small clarifications but no new substantive bar beyond those in Document 2. Practical Implications * Compliance and risk areas: Taxpayers must ensure correctness and sufficient supporting information in the return because "incorrect claims apparent from any information in the return" can be disallowed at processing stage. Late filing of a return for a year from which losses ar....