Sections 143(1) & 154 Orders Merge into Final Section 143(3) Assessment Order

SJVN Limited Vs ACIT (ITAT Chandigarh) In the case of SJVN Limited vs ACIT, the Income Tax Appellate Tribunal (ITAT) Chandigarh addressed the non-adjudication of key grounds by the CIT(A) regarding Minimum Alternate Tax (MAT) credit under Section 115JAA and the computation of book profit under Section 115JB. SJVN Limited had initially declared a book profit of Rs. 19,05,26,62,664, but the Centralized Processing Center (CPC) increased it by Rs. 201,15,58,023 due to deferred tax provisions. Additionally, while SJVN claimed a MAT credit of Rs. 90,64,10,578, only Rs. 55,49,51,164 was allowed. The ...