Section 143(2) Assessment bars Section 143(1) Summary processing: ITAT Delhi

India Thermit Corporation Ltd Vs DCIT (ITAT Delhi) ITAT Delhi ruling on Two proceedings initiated simultaneously -Notice u/s 143(2) for scrutiny assessment and AO subsequently processed the return u/s 143(1) making adjustment of income Income Tax Appellate Tribunal (ITAT) Delhi has ruled in favor of India Thermit Corporation Ltd in its appeal against the Deputy Commissioner of Income Tax (DCIT). The case pertained to the validity of an income tax adjustment made under Section 143(1)(a) of the Income-tax Act, 1961, despite a scrutiny assessment already being initiated under Section 143(2). The ...