NFAC Can’t Dismiss Appeal by Forcing Separate 143(1) Challenge

Madhu Sudan Misra Vs DCIT (ITAT Delhi) 143(1) Adjustments Merge into 143(3): ITAT Delhi Deletes CPC Additions & Overrules NFAC Dismissal The Delhi ITAT “E” Bench, comprising Shri S. Rifaur Rahman (AM) & Shri Sudhir Kumar (JM), allowed the appeal of Madhu Sudan Misra for AY 2018-19 and held that adjustments made by CPC u/s 143(1) cannot survive once a regular assessment u/s 143(3) is completed, applying the settled doctrine of merger The Assessee had filed return declaring income of ₹1.39 crore. CPC issued an intimation proposing adjustments relating to (i) capital gains reported ...