https://www.taxtmi.com/caselaws?id=460561 The ITAT Kolkata quashed an assessment where the AO made additions for suppression of sales during limited scrutiny proceedings initiated for cash withdrawal verification. The assessee was selected under CASS for limited scrutiny specifically for cash withdrawals in FY 2016-17, but the AO examined undisclosed sales issues without converting the assessment to complete scrutiny as required by CBDT Circular No. 5/2016. The tribunal held that the AO's action violated prescribed procedures, making the assessment invalid and unsustainable. en-us Tue, 18 Jul 2023 00:00:00 +0530 Fri, 31 Jan 2025 18:55:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460561 The ITAT Kolkata quashed an assessment where the AO made additions for suppression of sales during limited scrutiny proceedings initiated for cash withdrawal verification. The assessee was selected under CASS for limited scrutiny specifically for cash withdrawals in FY 2016-17, but the AO examined undisclosed sales issues without converting the assessment to complete scrutiny as required by CBDT Circular No. 5/2016. The tribunal held that the AO's action violated prescribed procedures, making the assessment invalid and unsustainable. Case-Laws Income Tax Tue, 18 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460561