Adjustment of incorrect claim apparent from any information in return is permissible u/s 143(1)

Sree Gokulam Chit and Finance Co. P. Ltd. Vs DCIT (ITAT Chennai) ITAT Chennai held that post amendment w.e.f. 01.04.2008, the scope of adjustment u/s.143(1) of the Act has widened and enlarged. Accordingly, adjustments with regard to incorrect claim apparent from any information in the return of income permissible. Facts- The assessee filed ROI and the same was processed by the ADIT, CPC, Bangalore by intimation u/s.143(1) of the Act thereby making adjustment in regard to delayed payment of employees contributions of PF funds amounting to Rs.2,09,425/- and ESI contribution amounting to Rs.3,40...