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2018 (6) TMI 1182 - ITAT KOLKATAAddition made on account of undisclosed purchase - Held that:- An admission is an extremely important piece of evidence but it cannot be said that it is conclusive. It is open to the person who made the admission to show that it is incorrect. SEE PULLANGODE RUBBER AND PRODUCE COMPANY LIMITED VERSUS STATE OF KERALA AND ANOTHER [1971 (9) TMI 64 - SUPREME COURT] Both in the post survey proceedings and scrutiny assessment proceedings, detailed explanations were submitted by the assessee which was supported by proper evidences and documents to establish why the statement made at the time of survey is not being adhered to - the assessee in the assessment proceedings intimated to the ld AO what are the correct facts and filed evidences in support of its claim. The assessee had supported its contentions based on the entries in the regular books of accouns that were duly audited and submitted before the ld AO - AO categorically agrees that the said books of accounts were examined by him in the assessment proceedings and no adverse remarks were passed on the same by him in his order. The books of accounts submitted by the assessee were not rejected by the ld AO - DR could not produce any contrary evidence on record to prove that the addition has been made other than placing reliance on statement recorded from the partner - Addition to be deleted - Decided against revenue
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