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2022 (4) TMI 1418 - HC - Income TaxAddition based on statement recorded u/s 132(4) - HELD THAT:- A raid was conducted and in that process, statement is said to have been recorded under Section 132(4) which was, later on, retracted by the Assessee. In a situation like this, where the office premises are sealed for many days and during that period, a statement is said to have been recorded under Section 132 (4) Tribunal’s view that only the basis of such retracted statement, addition could not be justified without any other material admissible in evidence, warrants no interference as it is not a substantial question of law. In the case of Commissioner of Income Tax Versus Harjeev Aggarwal [2016 (3) TMI 329 - DELHI HIGH COURT] and Kailashben Manharlal Chokshi [2008 (9) TMI 525 - GUJARAT HIGH COURT] various High Courts have held that addition based solely on statement later on retracted, without anything more, could not be justified in law. Thus, the view taken by the Tribunal cannot be faulted. No Substantial question of law.
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