https://www.taxtmi.com/caselaws?id=399101 The Tribunal concluded that the assessment was a regular assessment under section 143(3), not under section 153C/143(3). It upheld the Pr. CIT's direction to examine the investment in agricultural land within the limited scrutiny scope. The Tribunal found the AO conducted adequate inquiries for most aspects but lacked proper inquiry into the investment in agricultural land. This deficiency rendered the assessment order erroneous and prejudicial to Revenue interests. The appeal was partly allowed, with the Tribunal directing a fresh examination of the investment in agricultural land by the AO. en-us Mon, 28 Sep 2020 00:00:00 +0530 Sat, 03 Oct 2020 13:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=399101 The Tribunal concluded that the assessment was a regular assessment under section 143(3), not under section 153C/143(3). It upheld the Pr. CIT's direction to examine the investment in agricultural land within the limited scrutiny scope. The Tribunal found the AO conducted adequate inquiries for most aspects but lacked proper inquiry into the investment in agricultural land. This deficiency rendered the assessment order erroneous and prejudicial to Revenue interests. The appeal was partly allowed, with the Tribunal directing a fresh examination of the investment in agricultural land by the AO. Case-Laws Income Tax Mon, 28 Sep 2020 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=399101