Overreach beyond Limited Scrutiny Jurisdiction: ITAT quashes PCIT’s Order u/s 263 of Income Tax Act

The ITAT quashed an order issued by the Principal Commissioner of Income Tax (PCIT) under Section 263 of the Income Tax Act, finding that the PCIT overreached its jurisdiction. The case involved a limited scrutiny assessment, where the PCIT attempted to expand the scope of scrutiny beyond the original parameters. The tribunal ruled that such an overreach was not permissible, reinforcing the principle that authorities must adhere to the prescribed limits of their jurisdiction during tax assessments.