CPC Cannot Treat Form 3CD Entries as Final Without Verification

Surya International Pvt. Ltd. Vs Central Processing Center (ITAT Lucknow) 143(1) Adjustments Based on Form 3CD Not Conclusive: ITAT Orders AO Verification The Lucknow Bench of the ITAT partly allowed the assessee’s appeal for AY 2020-21 for statistical purposes, holding that prima facie adjustments made under section 143(1)—based solely on Form 3CD disclosures—cannot attain finality without factual verification. The CPC had added ₹1.75 crore treating a bank guarantee reported as contingent liability (Sl. 21(g) of Form 3CD) as income, and disallowed ₹3.18 lakh of electricity expenses ...