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2018 (12) TMI 641 - ITAT DELHIUnexplained money addition u/s. 69A - addition made on statement made under oath u/s. 132(4) and 131(1A) - Held that:- It is clear that there is no material or corroborative evidence to support the statement made under section 132(4) of the Act in respect of the addition of ₹ 30 lakh against unexplained investment in stock and ₹ 23.20 Lacs against the unexplained expenditure. The assessee did not admit the addition, which means, he retracted the said surrender in the return of income filed. We find that the Tribunal in the case of best infrastructure (India) Private Limited [2016 (5) TMI 1298 - ITAT DELHI] and the Hon’ble Jurisdictional High Court in the case of Harjeev Aggarwal [2016 (3) TMI 329 - DELHI HIGH COURT] have in the similar facts and circumstances, held that no addition can be made merely on the statement recorded under search and seizure proceedings on a standalone basis without any supporting or corroborative material. - Decided in favour of assessee
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