Guildelines for Limited Scrutiny u/s 143(2)(i).

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... 2002) it has been decided that the following procedure shall be adopted for the limited scrutiny u/s 143(2)(i) of the Income tax Act. 1. In case the Assessing Officer has reason to believe that any claim of loss, exemption, deduction, allowance or relief made in the return is inadmissible he shall serve on the assessee a notice specifying particulars of such claim of loss, exemption, deduction, .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e that within the prescribed time u/s 153(1) assessments is done in all cases, where notices have been issued u/s 143(2)(i). 5. The process of limited scrutiny has tremendous importance to Department's intent to prevent leakage of revenue through patently wrong claim etc. as such it is essential to fix responsibility for non selection of assessees for limited scrutiny. This responsibility should .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e. 7. Multiple notices could be served u/s 143(2)(i) within the prescribed time limit of 12 months from the end of the month in which the return of income was filed. 8. A disallowance of any claim, exemption, deduction allowance, relief etc. made through an assessment u/s 143(3)(i) would ordinarily result in issuance of notice u/s 271(1)(c) for furnishing of inaccurate particulars of income. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X