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ITAT Mumbai Quashes 153A Assessment Without Incriminating Material | ESOP Expense Allowed
Case Law Details
- Case Name
- DCIT Vs Hardcastle Restaurants Pvt Ltd (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Mumbai
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DCIT Vs Hardcastle Restaurants Pvt Ltd (ITAT Mumbai)
The case of DCIT vs. Hardcastle Restaurants Pvt Ltd addresses a dispute over income tax assessments for the years 2013-14 to 2018-19. The matter arose from a search and seizure operation conducted on the Jatia group, which included Hardcastle Restaurants. Following the search, the Assessing Officer (AO) issued notices under Section 153A of the Income-tax Act, 1961, and proceeded to reassess the company’s income. The AO made two significant additions for the assessment year (AY) 2014-15: a disallowance of Rs. 43,01,386 ...
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