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TMI Blog2020 (3) TMI 1480X X X X Extracts X X X X X X X X Extracts X X X X ..... . In that case, in our view, the proviso mandating giving of intimation to the assessee to the proposed adjustment should have also been followed by the revenue. It is so because, the said proviso was also inserted in sec. 143(1) along with clauses (iii) to (vi) by Finance Act, 2016. Since no such intimation was given to the assessee, the impugned adjustment is liable to be deleted. D.R invited our attention to the provisions of sec. 80AC of the Act. However, the controversy here is related the power of the AO in processing return of income u/s 143(1) - Hence we are of the view that we need not examine the provisions of sec. 80AC of the Act at this stage. Accordingly, we set aside the order passed by CIT (A) on this issue and direct the AO ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... return of income could be filed belatedly, as the assessee did not have adequate funds to pay self-assessment tax. The assessee, by placing reliance on certain case laws, contended that the deduction u/s 80IC should be allowed. However, the Ld CIT (A) noticed that the provisions of sec. 143(1)(v) specifically states that the deduction u/s 80IC shall be disallowed, if the return of income is furnished beyond the due date prescribed u/s 139(1) of the Act. Accordingly the Ld CIT (A) confirmed the disallowance. Aggrieved, the assessee has filed this appeal. 4. The Ld A.R submitted that the year under consideration is AY 2016-17 and the clauses (iii) to (vi) was inserted into sec. 143(1) of the Act by Finance Act, 2016 w.e.f. 1.4.2017. There is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... F.No.CPC/UIV/Judicial/2019-20 dated 03-03-2020, wherein it was stated that no intimation was given to the assessee. It was also stated that the year under consideration being AY 2016-17, no such intimation needs to be given. 7. We have noticed that the return of income of the assessee pertaining to AY 2016-17 was processed u/s 143(1) on 25.06.2017, i.e., after the date of insertion of clause (v) to sec. 143(1), i.e, after 1.4.2017. The contention of the revenue is that, if processing of return of income of any assessment year is done after 1.4.2017, then the provisions of clauses (iii) to (vi) inserted w.e.f. 1.4.2017 can be applied. In that case, in our view, the proviso mandating giving of intimation to the assessee to the proposed adjus ..... X X X X Extracts X X X X X X X X Extracts X X X X
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