https://www.taxtmi.com/caselaws?id=758441 The ITAT Delhi held that the CIT's revision order u/s 263 was invalid as the AO had conducted adequate enquiry within the limited scrutiny parameters. The case was selected for limited scrutiny on two specific points regarding rent recovery from specified persons and property usage, not foreign contribution treatment. The AO lacked jurisdiction to extend scrutiny scope beyond the specified parameters. Where two plausible views exist and the AO adopted one view, the CIT cannot substitute their opinion unless the AO's view is unsustainable. The AO's order was neither erroneous nor prejudicial to revenue interests, favoring the assessee. en-us Thu, 05 Sep 2024 00:00:00 +0530 Fri, 13 Sep 2024 13:02:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758441 The ITAT Delhi held that the CIT's revision order u/s 263 was invalid as the AO had conducted adequate enquiry within the limited scrutiny parameters. The case was selected for limited scrutiny on two specific points regarding rent recovery from specified persons and property usage, not foreign contribution treatment. The AO lacked jurisdiction to extend scrutiny scope beyond the specified parameters. Where two plausible views exist and the AO adopted one view, the CIT cannot substitute their opinion unless the AO's view is unsustainable. The AO's order was neither erroneous nor prejudicial to revenue interests, favoring the assessee. Case-Laws Income Tax Thu, 05 Sep 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758441