https://www.taxtmi.com/caselaws?id=441160 Section 263 revision requires an assessment order that is both erroneous and prejudicial to the interests of the Revenue; it cannot be used to enlarge a limited-scrutiny assessment beyond the issues the Assessing Officer was authorised to examine. In the 2016-17 year, the Tribunal noted that the assessee disclosed capital gains and capital losses, and held that the Act and treaty benefit under section 90(2) permitted the more favourable treatment, so acceptance of carry forward of capital loss was not erroneous in law. In the 2017-18 year, the revision failed because the proposed issue was outside the scope of limited scrutiny and the scrutiny had not been expanded to complete scrutiny. en-us Thu, 09 Mar 2023 00:00:00 +0530 Thu, 03 Aug 2023 07:54:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=441160 Section 263 revision requires an assessment order that is both erroneous and prejudicial to the interests of the Revenue; it cannot be used to enlarge a limited-scrutiny assessment beyond the issues the Assessing Officer was authorised to examine. In the 2016-17 year, the Tribunal noted that the assessee disclosed capital gains and capital losses, and held that the Act and treaty benefit under section 90(2) permitted the more favourable treatment, so acceptance of carry forward of capital loss was not erroneous in law. In the 2017-18 year, the revision failed because the proposed issue was outside the scope of limited scrutiny and the scrutiny had not been expanded to complete scrutiny. Case-Laws Income Tax Thu, 09 Mar 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=441160