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2016 (4) TMI 346 - AT - Income TaxAddition on undisclosed income - addition made by the AO on the basis of statement of Mr. Ajay Singhal at the time of survey recorded u/s. 133A - Held that:- We find considerable cogency in assessee’s submissions that addition cannot be made on the basis of the statement recorded during the survey under section 133A of the Act, in view of the various judicial decisions wherein, it has been held that such statement does not have any evidentiary value, especially the decision of the Hon’ble Madras High Court in the case CIT vs. S. Khakder Khan son reported in (2007 (7) TMI 182 - MADRAS HIGH COURT ) wherein, it has been held that “Addition on the basis of statement recorded during survey under section 133A-Sect. 133A does not empower any IT Authority to examine any person on oath, hence, any such statement has no evidentiary value and any admission made during such statement cannot, by itself, be made the basis for addition”. Thus we are of the considered opinion that the addition made on the basis of the statement in the present case recorded u/s. 133A is not sustainable in the eyes of law, hence, we delete the addition - Decided in favour of assessee.
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