ITAT Mumbai Quashes 153A Assessment Without Incriminating Material | ESOP Expense Allowed

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 d

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