Section 143 Income Tax Act,1961
Section 143: Return Processing and Scrutiny Assessment While as taxpayers we try our best to be compliant with the tax and fiscal laws prevalent in the country, but many times we end-up into litigation trouble due to various kind of scrutiny proceedings being initiated by the income tax authorities. Most of the times such proceedings seem to be cumbersome due to lack of clarity that why such kind of proceedings have been initiated. There can be various reasons a person’s return could be selected for scrutiny. One such case is of regular return processing and primary scrutiny assessment. Section 143(1) Income Tax Act, 1961 provides processing of ITR filed by assessee under section 139 or 142(1) of the Act. The 143(1) lays down that any return that has been filed by assessee as referred above will thereafter be processed by CPC- Centralized Processing Centre keeping in view below grounds of primary adjustment to reported income: - - ...