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2021 (10) TMI 1100 - ITAT LUCKNOW
Assessment u/s 153A - Addition u/s 68 - whether unsupported entries appearing in the books of account can also fall under the term ‘incriminating documents’ ? - HELD THAT:- In completed assessments, the additions u/s 153A can only be made on the basis of some incriminating material. The argument of learned CIT, D.R. that unsupported entries, recorded in the books of account, also comes under the definition of incriminating material, is of no force as these entries cannot be called incriminating as the assessee had recorded such transactions in the books of account. They are also not ‘unsupported’, but are duly and properly supported by documentary evidences, such as bank statements, Demat statements and real time transactions through screen based trading on recognized stock exchanges. Simply because certain persons have admitted to have provided these entries as accommodation entries, cannot make these entries incriminating unless such persons are subjected to cross examination by the assessee.
As in case of completed assessments, the additions can only be made on the basis of incriminating material respectfully following the judgment of Hon'ble Supreme Court in the case of Meeta Gutgutia [2018 (7) TMI 569 - SC ORDER] and Kabul Chawla [2015 (9) TMI 80 - DELHI HIGH COURT] we do not find any infirmity in the order of learned CIT(A). Therefore, the appeals filed by the Revenue are dismissed.