Allowing the petition against the intimation the Court held that where the assessee in Form 3CD disclosed amount of contingent liability at Rs. 42.94 crores and Assessing Officer while making adjustments under section 143(1)(a) under head ‘Amount in Income-tax Returns’ reflected figure of ‘0’ instead of Rs. 42.94 crores,. Court directed the Centralized Processing Centre to consider the application of the petitioner for rectification in the light of the above discussion, within a period of three months and pass a speaking order with respect to the amount of Rs. 42,94,12,920/-.
Sodexo India Services (P.) Ltd. v. CPC [2023] 147 taxmann.com 223 (Bom)(HC)
S. 143(1)(a) : Assessment – Intimation – Prima facie adjustment Rectification of mistake – Assessing Officer was to be directed to consider application of assessee for rectification afresh and pass a speaking order – Matter remanded. [S. 154, Art. 226, Form 3CCD]