I was issued notice under Section 143(2) in July 2017 informing me that my case has been selected for ‘Limited Scrutiny’ of my returns for AY 2016-17 on one point “Whether deductions from capital gains has been claimed correctly”. There was LTCG due to sale of immovable property during AY 2016-17. All details and document of correct calculations on capital gains on sale of immovable property were submitted by 'e-assessment' within time allowed. Now on 20.08.2018, I have been issued notice under 142 (1) asking for all the details of AY 2016-17, ranging from details of my business, profit and loss, balance sheets, Profit and Loss statement, details of unsecured loans, share transactions exempt income, etc, most of which are not related to assessment of Capital Gains. My quarry is whether ITO/ AO can go for full assessment or assessment on issues which are not covered under earlier notice under section 143(2) for same AY 2016-17. Reference to past judgements in this regard will help.
With regards
Ashok Kumar
CAclubindia
