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2018 (12) TMI 205 - AT - Income TaxAddition solely on the basis of statement of the assessee recorded under section 133A - loose papers assembled as Diary BK-4 - Amount surrendered by statement on oath at the time of survey by one of the Directors of the assessee-company - said amount of ₹ 1 crore was not included in the return of income filed when there were some amounts mentioned in the diary BK-4 - Held that:- No detail of any immoveable property comes out in the assessment order. There is no mention to whom the amounts were paid. CIT(A), whose powers are co-terminus with that of the AO, also did not conduct any enquiry as regards the aforesaid issues - D.R. also by examining the original records brought in during the course of hearing on 20/11/2018 deposed before the Bench that nothing in the file suggests that the addition was supported by corroborating evidences. Such addition cannot be sustained. Therefore, we set aside the order of the CIT(A) and allow the grounds of appeal of the assessee.
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