Scope of Limited Scrutiny is Confined: ITAT quashes Revision since Original Assessment was initiated to Cash Deposits during Demonetization [Read Order]

Scrutiny - ITAT - Assessment - Cash Deposits - Demonetization - taxscan

Quashing a revision order passed under section 263 of the Income Tax Act, 1961, the Income Tax Appellate Tribunal (ITAT), Jaipur bench has held that the scope of limited scrutiny is confined to its purpose and such an assessment cannot be treated as “erroneous”in order to invoke revisional jurisdiction. The assessee appellant, Shri Balaji’s case…

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