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2012 (11) TMI 1167 - HC - Income TaxAdditions based on statement during Survey Proceedings - Assessee is a manufacturer and trader of umbrellas. During survey, certain documents were found which were impounded. A statement of the Karta of assessee was recorded in which he had admitted that there were certain discrepancies in the impounded documents and he had surrendered for taxation some amount to cover possible anomaly. During the assessment proceedings, he had refuted the surrendered on the ground that there was no undisclosed income. The AO on the basis of statement found that the assessee was liable for further addition of the said amount and assessed the respondent accordingly. - HELD THAT:- Merely on the basis of statement recorded during the survey u/s 133A, such addition could not have been made. To make such addition, some corroborating evidence against undisclosed income was required, which could not be found by the AO. Decision in the case of COMMISSIONER OF INCOME-TAX VERSUS DHINGRA METAL WORKS [2010 (10) TMI 29 - DELHI HIGH COURT], relied upon.
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