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2020 (9) TMI 1290 - AT - Income TaxSearch and seizure operation u/s 132 - Survey operations were also carried out u/s 133A - addition based on statements recorded in search when retraction was during the course of search itself - At office premises of the assessee, the documents marked as GG/IO were found and seized - CIT-A deleted - HELD THAT:- In this case, no corroborative evidence has been brought on record by the Assessing Officer in support of his findings that the notings made on the printouts of the balance sheets taken from the pen drive, are in fact the income of the assessee. Writing on a paper taken as a print out from a pen drive found during the course of search cannot be income by any stretch of imagination. When the assessee makes certain serious allegation during the search operations and denies the content of the statement recorded from him u/s 132(4) of the Act, the burden shifts to the revenue to prove that the same is income. CIT (A) in our view has correctly analyzed the factual and legal position in this case. Hence we uphold the same. Decided in favour of assessee.
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