TaxTMI 
TaxTMI 
2026 (9) TMI 930
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....essment year 2020-21. 2. During the hearing, the learned Authorised Representative ("learned AR") submitted that the return filed by the assessee was selected for scrutiny for the reason of large relief allowed under section 90/91 of the Act. However, after considering the details and documents filed by the assessee, no addition was made on this issue vide the assessment order passed under section 143(3) r.w.s. 144B of the Act. The learned AR submitted that, however, instead of assessing the total income of the assessee as per the return of income, the same was assessed at the income computed as per the intimation issued under section 143(1) of the Act. The learned AR submitted that in the present case the intimation under section 143(1)....
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....Legislature would have expressly linked the limitation for issuance of notice u/s 143(2) to the date of intimation u/s 143(1), instead of the date of furnishing of the return. b. The purpose of the notice u/s 143(2) of the Act is to enable the Assessing Officer to satisfy himself that the Assessee has not understated its income, has not computed excessive loss and has not underpaid tax, before finalizing a scrutiny assessment. This is an independent exercise of statutory jurisdiction and is distinct from the summary and mechanical processing carried out u/s 143(1) of the Act, which is undertaken by the Centralized Processing Centre (CPC) for the limited purpose of making prima facie adjustments and raising a demand/granting a refun....
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....ut raising this objection before the Assessing Officer at the appropriate stage. 8. In view of the above discussion, the argument advanced by the Id. Counsel for the Assessee-that the notice u/s 143(2) of the Act dated 29.06.2021 is invalid for having been issued prior to processing of the return u/s 143(1) on 25.12.2021 - is factually misconceived and legally untenable. The provisions of section 143(1) and section 143(2) of the Act operate independently, and there is no statutory requirement that processing u/s 143(1) must precede issuance of notice u/s 143(2). The said ground raised by the Assessee before the Hon'ble ITAT is devoid of merit and deserves to be rejected, and the assessment order passed u/s 143(3) r.w.s. 144B of....
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....t High Court seems to be correct on principle. There is no dispute that section 143(1)(a) of the Act enacts a summary procedure for quick collection of tax and quick refunds. Under the scheme if there is a serious objection to any of the orders made by the Assessing Officer determining the income, it is open to the assessee to ask for rectification under section 154. Apart therefrom, the provisions of section 143(1)(a)(1) indicate that the intimation sent under section 143(1)(0) shall be without prejudice to the provisions of sub-section (2). The Legislature, therefore, intended that, where the summary procedure under sub-section (1) has been adopted, there should be scope available for the revenue, either suo motu or at the instance of the....