Revised itr while scrutiny u/s 143 is underway

Yes, it can be, before completion of assessment.

Thanks for your reply.

My pleasure

Can the business loss (ITR4) be allowed to carry forward after paying the penalty of not getting the accounts audited u/s 44

In order to carry forward loss, the return of income should be filed in time by the due date. Non- submission of tax audit report will not affect carryforward of loss, provided the return of income is filed by the due date.