Once U/s 153C Is Quashed, ₹6.68 Cr Rectification Orders Collapse

Sunil Kumar Sharma Vs DCIT (ITAT Bangalore) Once HC Kills 153C, Rectification Orders Die Too – ₹6.68 Cr Seized Cash Belongs to Assessee: Credit as Advance Tax Allowed Bangalore ITAT “A” Bench, in   Sunil Kumar Sharma Vs DCIT (ITA Nos. 105, 196 & 736/Bang/2022, AY 2018-19; order dated 31.01.2025), delivered a composite ruling dealing with consequences of quashing of 153C proceedings by Karnataka High Court, treatment of ₹6.68 crore seized cash, rectification u/s 154, and employees’ PF & ESI disallowance. Pursuant to search u/s 132 in the case of Shri D.K. Shivakumar (0...