https://www.taxtmi.com/caselaws?id=409248 The tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) exceeded jurisdiction under Section 263 by ordering a 'Denovo' assessment and raising issues beyond the limited scrutiny scope. The Assessing Officer (AO) properly examined the limited scrutiny issues, including sales turnover discrepancies, and adhered to the scope. Valuation of Work-in-Progress and agricultural income fell outside limited scrutiny. The tribunal set aside the Pr. CIT's order, affirming the AO's assessment. The appeal of the assessee was allowed. en-us Wed, 30 Jun 2021 00:00:00 +0530 Sat, 03 Jul 2021 08:56:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=409248 The tribunal held that the Principal Commissioner of Income Tax (Pr. CIT) exceeded jurisdiction under Section 263 by ordering a 'Denovo' assessment and raising issues beyond the limited scrutiny scope. The Assessing Officer (AO) properly examined the limited scrutiny issues, including sales turnover discrepancies, and adhered to the scope. Valuation of Work-in-Progress and agricultural income fell outside limited scrutiny. The tribunal set aside the Pr. CIT's order, affirming the AO's assessment. The appeal of the assessee was allowed. Case-Laws Income Tax Wed, 30 Jun 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=409248