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2017 (11) TMI 1900 - AT - Income TaxUnexplained stock of gold - survey u/s 133A of the Act in the business premises of the assessee - HELD THAT:- It is now well settled by the decision of the Hon’ble Supreme Court in the case of CIT vs S Khader Khan Son [2013 (6) TMI 305 - SC ORDER] that no addition could be made based on statement recorded during survey as the survey powers u/s 133A of the Act does not empower the ITO to examine any person on oath and hence the statement recorded thereon has got no evidentiary value. We find that the assessee had duly reconciled the entire stock of gold found in the showroom at the time of survey with proper facts and records. Hence we have no hesitation in deleting the addition sustained by Ld CIT-A to the tune of ₹ 18,50,000/- and the remaining portion deleted by the ld CIT-A also does not require any interference. Accordingly the grounds raised by the assessee are allowed and that of the revenue are dismissed.
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