https://www.taxtmi.com/caselaws?id=800716 Section 263 revision cannot rest on an Assessing Officer's failure to examine an asset-sale loss where that issue lies outside a limited-scrutiny assessment's selected verification points. Unless limited scrutiny is lawfully converted into complete scrutiny, the enquiry remains confined to the identified issues. Where the selected matters concern high liabilities relative to income and agricultural income, and the loss has no established nexus with either, the Explanation 2 deeming provisions apply only within that lawful enquiry scope. The revisional order was set aside and the original assessment restored. en-us Wed, 16 Sep 2026 00:00:00 +0530 Sat, 10 Oct 2026 08:32:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=800716 Section 263 revision cannot rest on an Assessing Officer's failure to examine an asset-sale loss where that issue lies outside a limited-scrutiny assessment's selected verification points. Unless limited scrutiny is lawfully converted into complete scrutiny, the enquiry remains confined to the identified issues. Where the selected matters concern high liabilities relative to income and agricultural income, and the loss has no established nexus with either, the Explanation 2 deeming provisions apply only within that lawful enquiry scope. The revisional order was set aside and the original assessment restored. Case-Laws Income Tax Wed, 16 Sep 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=800716