This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Section 68 Addition Quashed for Exceeding Limited Scrutiny Scope: ITAT Mumbai
Case Law Details
- Case Name
- Krian Cinema Banquets Pvt. Ltd. Vs ACIT (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2016-17
- Courts
- All ITAT, ITAT Mumbai
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Krian Cinema Banquets Pvt. Ltd. Vs ACIT (ITAT Mumbai)
Section 68 Addition Quashed for Travelling Beyond Scope of Limited Scrutiny
The Mumbai ITAT (E Bench) allowed the appeal of Krian Cinema Banquets Pvt. Ltd. for AY 2016-17 and deleted the addition of ₹2.00 crore made under section 68, holding that the Assessing Officer had exceeded the scope of limited scrutiny without mandatory approval.
Key findings of the Tribunal:
The case was selected for limited scrutiny solely to examine share premium under section 56(2)(viib).
Without converting the case into complete scrutiny and without approval...
Author Info
