Rs. 113.46 Crore Section 68 Addition Fails Due to Jurisdictional Defect

Aadarsh Surana Vs DCIT (ITAT Chennai) Limited Scrutiny Breach Proves Fatal: ITAT Chennai Quashes ₹113.46 Cr Section 68 Addition for Want of PCIT Approval  Chennai ITAT has allowed the Assessee’s appeal &  quashed the assessment order u/s 143(3) holding it to be void ab initio, as the AO illegally travelled beyond the scope of limited scrutiny without obtaining mandatory prior approval of the PCIT, in clear violation of binding CBDT Instructions. Assessee’s case was selected for limited scrutiny only on two issues — (i) expenses relating to exempt income & (ii) capital. Howeve...