#section 143(3)
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Deduction Allowed for Warranty Expense Provisions Based on Actual Settlement Costs from Prior Years

Responded Query During Assessment Implies AO Consideration, Even if Unmentioned in Order

Section 10A Deduction Precedes Set-Off of Carry-Forward Business Loss & Depreciation

Right to sue for damages is capital receipts hence not taxable

Deduction u/s 80P(2)(d) available to cooperative society in respect of dividend received on shares of cooperative banks

TP adjustment relating to intra-group services unjustified as benefit derived thereof duly demonstrated

AO Can Initiate Reassessment Based on Investigation Wing Info: ITAT

AO’s Addition u/s 68 Unsustainable: Assessee Proves Identity, Creditworthiness & Genuineness – ITAT

Benefit of indexed cost of acquisition available based on payments dates

Treatment of cash deposited out of sales as income u/s 68 unjustified as sales not disputed

Payment of guarantee fees to holding company for loan advanced to third party is deductible u/s. 37

Payment of guarantee fee to Gujarat Government is revenue expenditure

When fresh assessment is barred no further demand for recovery is possible

AO doesn’t have jurisdiction to assess/re-assess unabated assessment u/s. 153C without any incriminating material
Explore the latest section 143(3) updates on TaxGuru, including relevant Income-tax Act provisions, rules, notifications, circulars, judicial decisions and compliance guidance. The coverage highlights important tax positions, procedural requirements, assessments, deductions, penalties and litigation developments to help taxpayers and professionals understand the practical implications of changes in income-tax law.
