https://www.taxtmi.com/caselaws?id=446416 The Tribunal upheld the Principal Commissioner's decision under section 263, dismissing the assessee's appeal. The assessment order for A.Y. 2015-16 was set aside for fresh enquiry and assessment due to discrepancies in expenses claimed, such as 'Loss on shares' and 'Expenses on let out property,' which were not in compliance with the Income Tax Act. The Tribunal rejected the argument that the case was limited to scrutiny, affirming that the issues identified were within the scope of the initial scrutiny, and the acceptance of such claims by the Assessing Officer was erroneous. en-us Mon, 09 Oct 2023 00:00:00 +0530 Mon, 04 Dec 2023 08:44:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446416 The Tribunal upheld the Principal Commissioner's decision under section 263, dismissing the assessee's appeal. The assessment order for A.Y. 2015-16 was set aside for fresh enquiry and assessment due to discrepancies in expenses claimed, such as 'Loss on shares' and 'Expenses on let out property,' which were not in compliance with the Income Tax Act. The Tribunal rejected the argument that the case was limited to scrutiny, affirming that the issues identified were within the scope of the initial scrutiny, and the acceptance of such claims by the Assessing Officer was erroneous. Case-Laws Income Tax Mon, 09 Oct 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446416