Minimum alternate tax exclusions for pre-amendment banking companies and expatriate Indian branch salaries remain outside head office expenditure limi...
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Conversion of 'Limited scrutiny' to 'Complete Scrutiny' - We are not convinced with the argument of the DR that the issue raised by the AO is limited to the cash in hand available at the end of the financial year under consideration - as because if we admit the contention of the learned DR then the same will be beyond the scope of limited scrutiny as there was no question raised in the notice issued for the limited scrutiny under section 143(2) of the Act for the cash balance. The right course of action for the AO was to take the approval from the competent authority for expanding the scope of Limited Scrutiny to the regular assessment but he failed to do so. Thus, in our considered view inaction of the AO should not cause any harassment to the assessee. - AT
Conversion of 'Limited scrutiny' to 'Complete Scrutiny' - We are not convinced with the argument of the DR that the issue raised by the AO is limited to the cash in hand available at the end of the financial year under consideration - as because if we admit the contention of the learned DR then the same will be beyond the scope of limited scrutiny as there was no question raised in the notice issued for the limited scrutiny under section 143(2) of the Act for the cash balance. The right course of action for the AO was to take the approval from the competent authority for expanding the scope of Limited Scrutiny to the regular assessment but he failed to do so. Thus, in our considered view inaction of the AO should not cause any harassment to the assessee. - AT
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