CIT v. SKS Ispat & Power Ltd.

398 ITR 584High Court2017#670 most cited

What is CIT v. SKS Ispat & Power Ltd. authority for?

Additions in search assessments under Section 153A of the Income Tax Act are limited to incriminating material discovered during the search, and cannot be based on other evidence or post-search enquiries.

149

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2019 to 2025.

Also referred to as

CIT v. SKS Ispat & Power Ltd. · SKS Ispat · 398 ITR 584 · Section 153A · scope of assessment · incriminating material · search assessment · undisclosed income · post-search enquiries · Bombay High Court

Sections most often in play

Section 115BBESection 143(3)Section 153ASection 234BSection 234CSection 234ASection 271(1)(c)Section 37

Issues it is cited on

section 158b(b)section 158bb(1)section 153(a)accumulated profitssection 158bbsection 2(22)deemed dividendsection 2(22)(e)section 66retracted statementsection 153a proceedingssection 153a(1)

Judgments citing CIT v. SKS Ispat & Power Ltd.

M/S. Matha Enterprises, Angamally vs. ACIT, Ernakulam

In the result, the appeals of the assessee in ITA Nos

ITA 303/COCH/2010[2002-03]Status: DisposedITAT Cochin16 Dec 2019AY 2002-03

Bench: Shri Chandra Poojari, Am &Shri George George K, Jm

For Respondent: Sri. Sudhanshu Shekhar Jha, CIT(DR)

…chnical Education Society (397 ITR 344) (SC) (4)Pr. CIT vsDevangi alias Rupa (394 ITR 184) (Guj.) (5) CIT vs. Deepak Kumar Agarwal&Ors. (398 ITR 586) (Bom.) (6) CIT vs. JagdishNarainRatan Kumar (373 ITR 394) (Raj.-Jaipur) (7) CIT vs. SKS Ispat and Power Ltd. (398 ITR 584) (Bom.) (8) Pr. CIT vs. Best Infrastructure (India) Pvt. Ltd. (397 ITR 82) (Del.) (9) CIT vs. Continental Warehousing Coprporation (Nhavasheva) Ltd. (374 ITR 645) (Bom.) (10) CIT vs. Kabul Chawla (380 ITR 573) (Del.) (11) Pr. CIT vs. Soumya Construction P. Ltd. (387 ITR 529) (Guj.) (12) Pr. CIT vs. DipakJashvantalPanchal (397 ITR 153) (Guj.) (13)…

DCIT, Ernakulam vs. Matha Enterprises, Angamally

In the result, the appeals of the assessee in ITA Nos

ITA 269/COCH/2010[2001-02]Status: DisposedITAT Cochin16 Dec 2019AY 2001-02

Bench: Shri Chandra Poojari, Am &Shri George George K, Jm

For Respondent: Sri. Sudhanshu Shekhar Jha, CIT(DR)

…chnical Education Society (397 ITR 344) (SC) (4)Pr. CIT vsDevangi alias Rupa (394 ITR 184) (Guj.) (5) CIT vs. Deepak Kumar Agarwal&Ors. (398 ITR 586) (Bom.) (6) CIT vs. JagdishNarainRatan Kumar (373 ITR 394) (Raj.-Jaipur) (7) CIT vs. SKS Ispat and Power Ltd. (398 ITR 584) (Bom.) (8) Pr. CIT vs. Best Infrastructure (India) Pvt. Ltd. (397 ITR 82) (Del.) (9) CIT vs. Continental Warehousing Coprporation (Nhavasheva) Ltd. (374 ITR 645) (Bom.) (10) CIT vs. Kabul Chawla (380 ITR 573) (Del.) (11) Pr. CIT vs. Soumya Construction P. Ltd. (387 ITR 529) (Guj.) (12) Pr. CIT vs. DipakJashvantalPanchal (397 ITR 153) (Guj.) (13)…

M/S Shubham Prime Builders Ppvt. Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

In the result, both the appeals of the assessee are allowed in terms indicated hereinabove

ITA 607/JPR/2018[2010-11]Status: DisposedITAT Jaipur30 May 2019AY 2010-11
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132Section 139Section 139(1)Section 143(1)(a)Section 143(2)Section 143(3)Section 153ASection 153A(1)Section 3Section 40A(3)

…pending as on the date of search, no addition was warranted in respect of unsecured loans taken in earlier years. 6. The ld AR of the assessee has relied on the decisions of the Hon’ble 4 ITA 606 & 607/JP/2018_ Shubham Prime Builders P. Ltd. Vs DCIT (2017) 398 ITR 584 (Bom), CIT Vs. Gurinder Singh Bawa (2016) 386 ITR 483 (Bom) and the decision of Hon’ble Gujarat High Court in the case of Pr.CIT Vs. Dipak Jashvantlal Panchal (2017) 397 ITR 153 (Guj), in support of the proposition that the scope of assessment U/s 153A is limited to the incriminating evidence found during the course of search in respect of years…

M/S Shubham Prime Builders Ppvt. Ltd., Kota vs. Deputy Commissioner of Income Tax, Central Circle, Kota

In the result, both the appeals of the assessee are allowed in terms indicated hereinabove

ITA 606/JPR/2018[2010-11]Status: DisposedITAT Jaipur30 May 2019AY 2010-11
For Appellant: Shri P.C. Parwal (CA)For Respondent: Shri Varinder Mehta (CIT-DR)
Section 132Section 139Section 139(1)Section 143(1)(a)Section 143(2)Section 143(3)Section 153ASection 153A(1)Section 3Section 40A(3)

…pending as on the date of search, no addition was warranted in respect of unsecured loans taken in earlier years. 6. The ld AR of the assessee has relied on the decisions of the Hon’ble 4 ITA 606 & 607/JP/2018_ Shubham Prime Builders P. Ltd. Vs DCIT (2017) 398 ITR 584 (Bom), CIT Vs. Gurinder Singh Bawa (2016) 386 ITR 483 (Bom) and the decision of Hon’ble Gujarat High Court in the case of Pr.CIT Vs. Dipak Jashvantlal Panchal (2017) 397 ITR 153 (Guj), in support of the proposition that the scope of assessment U/s 153A is limited to the incriminating evidence found during the course of search in respect of years…

Shri P.M. Chordia, Jalna vs. Income-Tax Officer, Aurangabad

In the result, appeal of the assessee for assessment year 2006-07

ITA 1027/PUN/2011[2006-07]Status: DisposedITAT Pune01 Mar 2019AY 2006-07
For Appellant: Shri Sunil GanooFor Respondent: Shri Aseem Sharma
Section 132Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 153Section 153A

…however, could not demonstrate that the assessment made by the Assessing Officer u/s.153A r.w.s.143(3) of the Act is non-abated assessment. The ld. AR for the assessee placed reliance on the following decisions: i) CIT Vs. SKS Ispat and Power Ltd. reported in 398 ITR 594 (Bom.) ii) CIT Vs. Deepak Kumar Agarwal reported in 398 ITR 586 ( Bom.) 17. On the other hand, Ld. DR for the Revenue heavily placed reliance on the order of Assessing Officer and CIT(A). 16 18. We have heard both the parties and perused the material available on record. The case of the Assessing Officer is that there is requirement of making di…

Shri P.M. Chordia, Jalna vs. Income-Tax Officer, Aurangabad

In the result, appeal of the assessee for assessment year 2006-07

ITA 1026/PUN/2011[2005-06]Status: DisposedITAT Pune01 Mar 2019AY 2005-06
For Appellant: Shri Sunil GanooFor Respondent: Shri Aseem Sharma
Section 132Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 153Section 153A

…however, could not demonstrate that the assessment made by the Assessing Officer u/s.153A r.w.s.143(3) of the Act is non-abated assessment. The ld. AR for the assessee placed reliance on the following decisions: i) CIT Vs. SKS Ispat and Power Ltd. reported in 398 ITR 594 (Bom.) ii) CIT Vs. Deepak Kumar Agarwal reported in 398 ITR 586 ( Bom.) 17. On the other hand, Ld. DR for the Revenue heavily placed reliance on the order of Assessing Officer and CIT(A). 16 18. We have heard both the parties and perused the material available on record. The case of the Assessing Officer is that there is requirement of making di…

Shri P.M. Chordia, Jalna vs. Income-Tax Officer, Aurangabad

In the result, appeal of the assessee for assessment year 2006-07

ITA 1025/PUN/2011[2004-05]Status: DisposedITAT Pune01 Mar 2019AY 2004-05
For Appellant: Shri Sunil GanooFor Respondent: Shri Aseem Sharma
Section 132Section 139(1)Section 143(1)Section 143(2)Section 143(3)Section 153Section 153A

…however, could not demonstrate that the assessment made by the Assessing Officer u/s.153A r.w.s.143(3) of the Act is non-abated assessment. The ld. AR for the assessee placed reliance on the following decisions: i) CIT Vs. SKS Ispat and Power Ltd. reported in 398 ITR 594 (Bom.) ii) CIT Vs. Deepak Kumar Agarwal reported in 398 ITR 586 ( Bom.) 17. On the other hand, Ld. DR for the Revenue heavily placed reliance on the order of Assessing Officer and CIT(A). 16 18. We have heard both the parties and perused the material available on record. The case of the Assessing Officer is that there is requirement of making di…

Hydroair Tectonics (Pcd) Ltd, Navi Mumbai vs. DCIT Cen Cir 2(1), Mumbai

ITA 3949/MUM/2017[2005-06]Status: DisposedITAT Mumbai30 Jan 2019AY 2005-06

Bench: Shri Joginder Singh () & Shri G Manjunatha ()

Section 132Section 132(4)

…of incriminating material found as a result of search. In this regard, he relied upon the following judgements:- 1. CIT v. Continental Warehousing Corporation 374 ITR 645 (Bom) 2. CIT v. Gurinder Singh Bawa 386 ITR 483 (Bom) 3. CIT v. SKS Ispat & Power Ltd. 398 ITR 584 (Bom) 4. Pr. CIT v. Marytime Suppliers Pvt. Ltd. –ITA No. 50/2017 5. Pr. CIT v. Dharampal Agrawal – ITA No. 52/2017 6. CIT v. Deepak Kumar Agarwal 398 ITR 586 (Bom) 7. CIT v. Murli Agro Products Ltd. 49 taxmann.com 172 (Bom) 8. Pr. CIT v. Saumya Construction P. Ltd. 387 ITR 529 (Guj) 9. Pr. CIT v. Devangi alias Rupa 98 CCH 51 10. Pr. CIT v. Desai…

Rajkumari Singh, Navi Mumbai vs. DCIT Cen Cir 8, Mumbai

ITA 946/MUM/2016[2005-06]Status: DisposedITAT Mumbai30 Jan 2019AY 2005-06

Bench: Shri Joginder Singh () & Shri G Manjunatha ()

Section 132Section 132(4)

…of incriminating material found as a result of search. In this regard, he relied upon the following judgements:- 1. CIT v. Continental Warehousing Corporation 374 ITR 645 (Bom) 2. CIT v. Gurinder Singh Bawa 386 ITR 483 (Bom) 3. CIT v. SKS Ispat & Power Ltd. 398 ITR 584 (Bom) 4. Pr. CIT v. Marytime Suppliers Pvt. Ltd. –ITA No. 50/2017 5. Pr. CIT v. Dharampal Agrawal – ITA No. 52/2017 6. CIT v. Deepak Kumar Agarwal 398 ITR 586 (Bom) 7. CIT v. Murli Agro Products Ltd. 49 taxmann.com 172 (Bom) 8. Pr. CIT v. Saumya Construction P. Ltd. 387 ITR 529 (Guj) 9. Pr. CIT v. Devangi alias Rupa 98 CCH 51 10. Pr. CIT v. Desai…