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TMI Blog2012 (5) TMI 397X X X X Extracts X X X X X X X X Extracts X X X X ..... . Adjustment with reference to section 43B - retrospective amendment - it has been held by the Supreme Court that the first proviso to Section 43B has to be treated as retrospective and should be read as a part of the Act with effect from 1.4.1984 itself. The Supreme Court observed that the amendment would not serve its objective unless it is construed as retrospective. Without first proviso, and explanation 2 would not obviate the hardship of Section 43B. - Addition made u/s 143(1)(a) deleted. - ITA No. 1250/1990 - - - Dated:- 14-5-2012 - Sanjiv Khanna and R V Easwar, JJ For Appellant: Mr R Santhanam, Adv For Respondent: Mr Sanjeev Sabharwal, Adv JUDGEMENT Easter Industries Limited has filed the present writ petition i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed to the assessee : Provided that in computing the tax or interest payable by, or refundable to, the assessee, the following adjustments shall be made in the income or loss declared in the return, namely : (i) any arithmetical errors in the return, accounts or documents accompanying it shall be rectified ; (ii) any loss carried forward, deduction, allowance or relief, which, on the basis of the information available in such return, accounts or documents, is prima facie admissible but which is not claimed in the return, shall be allowed; (iii) any loss carried forward, deduction, allowance or relief claimed in the return, which, on the basis of the information available in such return, accounts or documents, is prima facie i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the return. The proof in support of the claim may be evidenced from correspondence, from the books of account or other documents and it is not the law, as we understand it, that, in support of a claim made in the return for deduction or non-taxability of a receipt, all, the proofs available and original documents must be filed along with the return. It is apparent on a reading of the said provision that adjustment can be made only if there is information available in such return that prima facie a claim or allowance is inadmissible. For the aforesaid view which we are taking, support is available from the understanding of the said provision by the Department itself. Learned counsel for the petitioner has drawn our attention to Circular ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... under any other head. (vi) Loss under any head, other than under the head 'Profits and gains of business or profession', carried forward and set off against the current income. (vii) Carried forward loss of business set off against income of the current year under other heads. (viii) Old loss of more than eight assessment years set off against the current business income, if the information is available in the return or the accompanying documents. (ix) Deduction under section 80C in respect of provident fund contributions or life insurance premia or N. S. C. VI or VII Issue not claimed, though the information is available in the documents accompanying the return, or claimed at a figure which is less than or is in excess of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Turnover Tax 20,951.00 P.F. Trust 1,02,020.00 16.4.89 464.00 13.4.89 1,00,250.00 13.4.89 242.00 15.7.89 64.00 1,01,020.00 Sales Tax Payable (85,545.16-1,219.44) 84,325.72 8.5.89 34,727.56 12.5.89 46,855.60 29.4.89 3,962.00 85,545.16 Professional Tax at Source 40.00 13.6.89 Interest accrued 6,83,24,235.00 12.4.89 3,74,026.00 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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