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2020 (4) TMI 704 - AT - Income TaxDifference in stock found during the course the survey - admission recorded by the department u/s. 133A - assessee has categorically stated that during the course of assessment proceedings, the audited books of account were produced by the assessee and also placed on record copy of audited report - HELD THAT:- No addition can be made only on the basis of admission recorded by the department u/s. 133A - we find support from the CBDT Circular No. 286/2/2003 dated 10-03-2003 as well as the decision of Hon’ble Supreme Court in the case of CIT vs. Khader Khan Son [2013 (6) TMI 305 - SC ORDER] in which it has been categorically held that addition on the basis of statements recorded during the survey u/s.133A does not empower any IT authority to examine on oath and therefore any admission made in a statement recorded during the survey cannot by itself, be made the basis for addition and therefore considering the totality of the facts as narrated and discussed above, we are of the view that addition made by the assessing officer and upheld by the ld. CIT(A) are not sustainable in the eyes of law and we direct the ld.AO to delete the additions. - Decided in favour of assessee.
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