Assessing Officer during assessment accepted returned income based on limited scrutiny.\u00a0 Commissioner invoked section 263 on ground that Assessing Officer failed to conduct an inquiry by not invoking provisions of sections 68 to 69C and 115BBE and passed revisional order. Tribunal\u00a0 allowed appeal filed by assessee quashing and setting aside order passed by Commissioner under section 263.\u00a0 Revenue filed a rectification application contending that Assessing Officer did not carry out examination and therefore, as per Explanation 2 to section 263, Commissioner was justified in passing revisional order. Tribunal rejected the rectification application of the Revenue. On writ the Court held that\u00a0 there is\u00a0 no mistake apparent on record from order passed by Tribunal in appeal and revenue could not have filed rectification application on same ground when Tribunal had already considered same and thus rectification application is\u00a0 rightly rejected. \u00a0(AY. 2017-18)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 254(2): Appellate Tribunal-Rectification of mistake apparent from the record \u2013Limited scrutiny for verification of cash deposits during demonetization period-Revision order is quashed by the Tribunal-Rectification application of Revenue is rejected-Order of Tribunal rejecting the rectification application is affirmed. [S.68 69C, 115BBE,263, Art. 226] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-50911","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-df9","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50911","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=50911"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50911\/revisions"}],"predecessor-version":[{"id":50912,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/50911\/revisions\/50912"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=50911"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=50911"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=50911"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}