Assessing Officer Exceeds Limited Scrutiny Scope: ITAT Quashes Order

Srimanta Kumar Shit Vs ACIT (ITAT Kolkata) In a significant ruling for taxpayers, the Income Tax Appellate Tribunal (ITAT) Kolkata has quashed an assessment order against Srimanta Kumar Shit, an individual engaged in the fish resale business. The Tribunal held that the Assessing Officer (AO) overstepped the bounds of a “limited scrutiny” assessment by making additions beyond the initially identified issue of “cash deposit during demonetization” without following the prescribed procedure for converting to a complete scrutiny. The case, Srimanta Kumar Shit Vs ACIT (ITAT K...