https://www.taxtmi.com/caselaws?id=433793 The Tribunal quashed the Principal Commissioner of Income Tax's revision order under Section 263, ruling that the original assessment was not erroneous or prejudicial to revenue. It held that the Assessing Officer correctly adhered to the "Limited Scrutiny" scope, emphasizing that issues beyond were impermissible without credible material or prior approval. The Tribunal referenced precedent to support its decision, noting the lack of justification for expanding scrutiny. The appeal was allowed in favor of the assessee. en-us Tue, 31 Jan 2023 00:00:00 +0530 Thu, 09 Feb 2023 10:00:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=433793 The Tribunal quashed the Principal Commissioner of Income Tax's revision order under Section 263, ruling that the original assessment was not erroneous or prejudicial to revenue. It held that the Assessing Officer correctly adhered to the "Limited Scrutiny" scope, emphasizing that issues beyond were impermissible without credible material or prior approval. The Tribunal referenced precedent to support its decision, noting the lack of justification for expanding scrutiny. The appeal was allowed in favor of the assessee. Case-Laws Income Tax Tue, 31 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=433793