- (1.) FOLLOWING questions have been referred for opinion of this Court by the Tribunal, Chandigarh Bench, Chandigarh, arising "1. Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in holding that prima facie adjustment made under s. 143(1)(a) is not permitted by law, when on the face of the statement of accounts, it was clearly a wrong claim of the assessee ?
(2.) WHETHER , on the facts and in the circumstances of the case, the Tribunal was right in law in holding that income from non -trade investment forms part of profit from business or profession for the purpose of deduction under s. 80HHC - from other sources, creating demand for additional tax. The assessee made an application under s. 154 of the Act for rectification, which was rejected and appeal of the assessee was dismissed by the CIT(A). The Tribunal, however, accepted the plea of the assessee and held that having issued notice under s. 143(2) of the Act, intimation under s. 143 (1)(a) of the Act was not permissible.
(3.) LEARNED counsel for the Revenue submitted that the view taken by the Tribunal is contrary to law but in support of his arguments, no provision or judgment has been cited. Learned counsel for the assessee, on the other hand, submits that the view taken by the Tribunal is in accordance with the view taken by the Hon'ble Supreme Court in CIT vs. Gujarat Electricity Board (2003) 181 CTR (SC) 28 : (2003) 260 ITR 84 (SC).;