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1 result for “reassessment”+ Block Assessmentclear

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Section 1442Section 1472

SALGAOCAR MINING INDUSTRIES PVT. LTD,PANAJI vs. DEPUTY COMMISSIONER OF INCOME TAX, CIRCLE - 1, MARGAO

The appeal of the assessee is PARTLY ALLOWED in aforestated terms

ITA 132/PAN/2025[2006-07]Status: DisposedITAT Panaji29 Jan 2026AY 2006-07

Bench: Hon’Ble Shri Pavan Kumar Gadale & Shri G. D. Padmahshaliassessment Years: 2006-2007 M/S Salgaocar Mining Industries Pvt Ltd. Salgaonkar Bhava, Altino, Panaji, Goa-403001. Pan: Aabcs8862N . . . . . . . Appellant V/S Dy. Commissioner Of Income Tax, Circle-1, Margao, Goa. . . . . . . . Respondent Represented Assessee By: Mr Sukhsagar Syal [‘Ld. Ar’] Revenue By: Ms Rijjula Uniyal [‘Ld. Dr’] Date Of Conclusive Hearing : 20/01/2026 Date Of Pronouncement : 29/01/2026 Order Per G. D. Padmahshali; This Assessee’S Appeal Filed U/S 253(1) Of The Income- Tax Act, 1961 [‘The Act’] Impugns The Order Dt. 20/03/2025 Passed U/S 250 Of The Act By Commissioner Of Income Tax(Appeals-2), Panaji [‘Ld. Cit(A)’] Which In Turn Dealt With Order Dt. 20/12/2011 Passed U/S 144 Of The Act By Dcit, Circle-1, Margao Goa [‘Ld. Ao’] Anent To Assessment Year 2006-07.[‘Ay’]

For Appellant: Mr Sukhsagar Syal [‘Ld. AR’]For Respondent: Ms Rijjula Uniyal [‘Ld. DR’]
Section 143(1)Section 143(2)Section 143(3)Section 144Section 147
Section 148
Section 154
Section 246A
Section 250
Section 253(1)

reassessed the total income to best of his judgement by bringing to tax (1) difference in receipt of ₹87,62,350/- arising from three parties viz; M/s Salgaocar Shipping Co. Pvt. Ltd., M/s Salitho Ores Pvt. Ltd. & M/s Salgaocar Shipping Co. Pvt. Ltd., and (2) ₹1,82,643/- excess depreciation claimed on block of ship owning to incorrect