Sharekhan Limited vs. DCIT, Circle 15(3)(2)

Parties Involved

Facts Summary

The case involves appeals by Sharekhan Limited against the order dated 23.03.2026 passed by the National Faceless Appeal Centre/Ld. Commissioner of Income Tax (Appeals) under section 250 of the Income Tax Act, 1961. The appeals concern the assessment order dated 28.06.2021 passed under section 143(3) r.w.s. 254 of the Act, which gave effect to the order dated 24.03.2017 passed by the Tribunal in ITA Nos. 5470/Mum/2013 and 2729/Mum/2014. The Ld. Commissioner partly allowed the appeal of the Assessee while sustaining disallowances of Rs.12,38,670/- under section 14A r.w. Rule 8D(2)(iii) and Rs.76,34,265/- on account of lease provision, whereas the issue relating to Rs.98,38,458/- was directed to be verified by the AO.…

Legal Issues

• 1. Whether the order passed under section 143(3) r.w.s. 254 is time-barred and passed beyond the time limit specified under the law.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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