https://www.taxtmi.com/caselaws?id=434655 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) erred in assuming revisionary powers under section 263 and expanding the scope of limited scrutiny. The Tribunal set aside the PCIT's order, emphasizing that the Assessing Officer (AO) had conducted adequate inquiries within the scope of limited scrutiny and that the PCIT could not expand this scope during section 263 proceedings. The appeal of the assessee was allowed, and the order was pronounced in open court on 24-02-2023. en-us Fri, 24 Feb 2023 00:00:00 +0530 Tue, 28 Feb 2023 10:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434655 The Tribunal held that the Principal Commissioner of Income Tax (PCIT) erred in assuming revisionary powers under section 263 and expanding the scope of limited scrutiny. The Tribunal set aside the PCIT's order, emphasizing that the Assessing Officer (AO) had conducted adequate inquiries within the scope of limited scrutiny and that the PCIT could not expand this scope during section 263 proceedings. The appeal of the assessee was allowed, and the order was pronounced in open court on 24-02-2023. Case-Laws Income Tax Fri, 24 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434655