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ITAT Bangalore Quashes ₹7,778 Cr 143(1) Adjustment After 143(2) Notice
Case Law Details
- Case Name
- Toyota Industries Engine India Pvt. Ltd. Vs ACIT (ITAT Bangalore)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2021-22
- Courts
- All ITAT, ITAT Bangalore
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Toyota Industries Engine India Pvt. Ltd. Vs ACIT (ITAT Bangalore)
“Once Scrutiny Starts, CPC Can’t Play Parallel Cricket” – ITAT Bangalore Quashes ₹7,778 Cr 143(1) Adjustment After 143(2) Notice
In a significant ruling, the Bangalore ITAT held that once a notice under section 143(2) is issued initiating regular scrutiny assessment, the Department cannot subsequently resort to summary processing under section 143(1) for making prima facie adjustments. The Tribunal deleted massive adjustments including ₹7,778.48 crore towards GST collections and disallowance under section 43B, ho...
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