https://www.taxtmi.com/caselaws?id=449689 ITAT Rajkot held that PCIT cannot enhance the scope of limited scrutiny proceedings through section 263 revision. The case involved a Co-operative bank's interest income claim for deduction under section 80P(2)(d). While the original limited scrutiny assessment covered specific issues like investments/advances/loans and disallowances under sections 40(9) and 40A(7), PCIT attempted to revise the assessment order regarding section 80P deduction, which was outside the original scope. The tribunal ruled this impermissible, stating PCIT cannot fault an assessment order on issues not covered by limited scrutiny when the Assessing Officer could not have examined such issues. Decision favored the assessee. en-us Thu, 15 Feb 2024 00:00:00 +0530 Sat, 17 Feb 2024 06:50:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449689 ITAT Rajkot held that PCIT cannot enhance the scope of limited scrutiny proceedings through section 263 revision. The case involved a Co-operative bank's interest income claim for deduction under section 80P(2)(d). While the original limited scrutiny assessment covered specific issues like investments/advances/loans and disallowances under sections 40(9) and 40A(7), PCIT attempted to revise the assessment order regarding section 80P deduction, which was outside the original scope. The tribunal ruled this impermissible, stating PCIT cannot fault an assessment order on issues not covered by limited scrutiny when the Assessing Officer could not have examined such issues. Decision favored the assessee. Case-Laws Income Tax Thu, 15 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449689