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2015 (11) TMI 1435 - AT - Income TaxAddition on disclosed additional income - Held that:- For the total cash payment of ₹ 38 lac for first time, in reply to show cause notice, the assessee faintly urged that the statement by the director was not voluntary and sought to retract it. The tribunal refused to accept such retraction. Dismissing the assessee’s appeal, the Hon’ble High Court held that the tribunal was correct in adding back amount after adjusting expenditure. As the retraction in the extant case also came after a long time and further it is contrary to the evidence found at the time of survey, we, therefore, approve the view of the ld. CIT(A) in not accepting the retraction made by the assessee. As regards the advance of ₹ 13 lac, the assessee filed a letter before the ld. CIT(A) from one Shri Mohammed Jamil, stated to be the owner of the said property. The ld. CIT(A) noticed that the receipt showed the name of Shri Amit Chauhan as the recipient and not Shri Mohammed Jamil. When this discrepancy was pointed out by the ld. CIT(A), the assessee could not explain anything. However, on a later date, an affidavit from Shri Amit Chauhan was filed denying the above transaction. Similarly, for ₹ 25 lac, the assessee filed a letter along with an affidavit in the name of Shri Atul Jain stating that he had not received the said amount from the assessee. In our considered opinion, these affidavits filed by the assessee before the ld. CIT(A) are self serving documents having no evidentiary value, when seen in the backdrop of the facts that the two documents evidencing the assessee having made payments of ₹ 25 lac and ₹ 13 lac were found from his own briefcase at the time of survey and he admitted that these represented payments made by him in cash out of commission income which was not recorded in the books of account. Adverting to the facts of the instant case, we find that the assesee came out with some self serving affidavits for the first time at the stage of the first appeal. These affidavits in our considered opinion have been rightly jettisoned by the ld. CIT(A) as the averments in them run contrary to the evidence found at the time of survey, which evidence was accepted by the assessee as correct. No exception can be found from the impugned order sustaining the addition to the tune of ₹ 26,50,500/-. The same is, therefore, upheld. - Decided against assessee
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