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‘LIMITED SCRUTINY’ UPDATES ON 30th’NOVEMBER’2018

CASE UPDATES:

www.carajput.com; scrutiny

It is explained by the Central Board of Direct Taxes (CBDT) that the limited scrutiny cases referred under CASS cycles in 2017 and 2018 where the issues referred to by the law scope enforcement/ intelligence/ regulatory authority or agency.
In CASS cycles 2017 and 2018, few cases were selected for scrutiny in form of ‘Limited Scrutiny’ case. In the cases of ‘Limited Scrutiny’ the officers appointed for the case cannot travel beyond those issues for which they were appointed for.
The issues of several cases under ‘Limited Scrutiny’ information pointing out specific tax-evasion for the relevant year enforcement are asked by the filed authority. Agencies are available with the concerned Assessing Officer, however, in view of the restrictive nature of the restrictive nature of enquiry which can be made in ‘Limited Scrutiny’ cases, the same presently cannot be acted upon.
After the Examination of issue properly, it was said by the board that the issue coming out in this from the information can also be examined during the course of conduct of assessment proceedings in such ‘Limited Scrutiny’ with prior approval.
It was said by the board that in Limited Scrutiny, assessing officer shall not expand the enquiry level for which the case was assigned for ‘Limited Scrutiny’ & issue arising from nature of information,” the Board said.
The officers assigned for the same should duly record the reason for expansion of the scope of ‘Limited Scrutiny’ to the extent.
For the proper monitoring in the cases provisions of Section 144A of the Income Tax Act, 1961 may be invoked in suitable cases.
The mentioned aspects shall be applicable from the date of issue and shall apply to the pending ‘Limited Scrutiny’ case selected in CASS 2017 and 2018 cycle.

Tags: cases of ‘Limited Scrutiny’Central Board of Direct TaxesComputer Aided Scrutiny Selectionissue arising

6 years ago

Rajput Jain & Associates

Rajput Jain & Associates is a Chartered Accountants firm, with it's headquarter situated at New Delhi (the capital of India). The firm has been set up by a group of young, enthusiastic, highly skilled and motivated professionals who have taken experience from top consulting firms and are extensively experienced in their chosen fields has providing a wide array of Accounting, Auditing, Taxation, Assurance and Business advisory services to various clients and their stakeholders. Rajput jain & Associates, a professional firm, offers its clients a full range of services, To serve better and to bring bucket of services under one roof, the firm has merged with it various Chartered Accountancy firms pioneer in diversified fields. We have associates all over India in big cities. All our offices are well equipped with latest technological support with updated reference materials. We have a large team of professionals other than our Core Team members to meet the requirements of our prospective clients including the existing ones. However, considering our commitment towards high quality services to our clients, our team keeps on growing with more and more associates having strong professional background with good exposure in the related areas of responsibility.