https://www.taxtmi.com/caselaws?id=305996 The Tribunal allowed the assessee's appeal, quashing the Pr. CIT's order under Section 263 of the Income-tax Act. It ruled that the Pr. CIT's revisionary action was erroneous and prejudicial to the Revenue's interest, as it addressed issues beyond the Limited Scrutiny's scope. The Tribunal underscored adherence to CBDT Instructions, emphasizing that any expansion of scrutiny scope requires explicit permission, thus invalidating the Pr. CIT's directive for additional issues like "under valuation of closing stock." The decision aligns with precedents, reinforcing the limitations on the AO in Limited Scrutiny cases. en-us Thu, 18 Aug 2022 00:00:00 +0530 Wed, 13 Mar 2024 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=305996 The Tribunal allowed the assessee's appeal, quashing the Pr. CIT's order under Section 263 of the Income-tax Act. It ruled that the Pr. CIT's revisionary action was erroneous and prejudicial to the Revenue's interest, as it addressed issues beyond the Limited Scrutiny's scope. The Tribunal underscored adherence to CBDT Instructions, emphasizing that any expansion of scrutiny scope requires explicit permission, thus invalidating the Pr. CIT's directive for additional issues like "under valuation of closing stock." The decision aligns with precedents, reinforcing the limitations on the AO in Limited Scrutiny cases. Case-Laws Income Tax Thu, 18 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=305996