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of <h1>New Circular Mandates Register for Selective Scrutiny Cases; Sets Criteria for Summary Assessments Under Income Tax Act, 1961.</h1> The circular instructs assessing officers to maintain a register for selective scrutiny cases as per the enclosed form. It references previous instructions and outlines criteria for summary assessments under the Income Tax Act, 1961. The criteria include a Rs. 50,000 ceiling for certain charges and specify trades like steel, textiles, sugar, and paper for scrutiny. Commissioners may select up to 2% of cases for scrutiny, using methods like random selection based on PAN numbers. The focus of scrutiny is on identifying undisclosed income rather than rejecting book results, and adequate data collection is emphasized for future projections.
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