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2023 (12) TMI 100 - ITAT GUWAHATIRevision u/s 263 - case of the assessee was selected for limited scrutiny - As per CIT sum as debited in your P& L A/c as ‘Loss on shares’ under ‘Other Expenses’ and allowed at the time of assessment in contravention to provisions of section 71(3) of the Income Tax Act, 1961 and amount as been claimed as ‘Expenses on let out property’ and an amount as been claimed as ‘Expenses against Rental Income’ and allowed at the time of assessment, even though such expenses were not covered under Chapter IV of the Income Tax Act, 1961 - as per assessee above two items cannot be looked into by the ld. Commissioner because it is a case for limited scrutiny. HELD THAT:- It is pertinent to observe that we have take note of all the issues on which limited scrutiny was to be carried out. The first item in these issues is ‘income from heads of income other than business/profession mismatch’. The other head of income of the assessee, is ‘house property income’ and apart from the expenditure provided under Chapter (iv) of the Income Tax Act, no other expenditure could be claimed. It is patently erroneous claim at the end of the assessee, which has been accepted by the AO therefore, this CBDT Circular is not attracted in the present case. The scrutiny of the income of the assessee is not being converted from limited scrutiny to complete scrutiny. These items duly fall within the first issue provided in the limited scrutiny itself, therefore, neither the decision of the ITAT Indore Bench applicable nor CBDT Circular. The assessee has not appeared before the ld. Commissioner or filed any explanation qua the proposed errors. Therefore, considering the stand of both the sides as well as perusal of the impugned order of the ld. Pr. Commissioner, we do not find any error in it. The appeal of the assessee is devoid of any merit and accordingly dismissed.
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