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2022 (4) TMI 481 - AT - Income TaxUndisclosed income - assessee has surrendered income by the statement recorded u/s 132(4) - Proof of incriminating material or documents which indicate concealment of income - HELD THAT:- We find that the statement has been recorded on 23.07.2015 and the same has been retracted on 23.07.2015 and on 03.08.2015 vide letters addressed and posted to Joint Direct(Inv.), Dehradun - assessment has been completed summarily without any reference to the incriminating material or documents which indicate concealment of income. CBDT circular directs the field authorities that no assessment or surrender be extracted without having any relevance to the material found and seized during the search. In the instant case, there was no material to connect the undisclosed income to the assessee. Similarly, the additions made in the case of Yogesh Singla and Mahdu Singla which is a part of the statement given by the assessee with regard to the surrender has been deleted by the Coordinate Bench of the Tribunal [2020 (5) TMI 715 - ITAT DEHRADUN] - Since, there was no material before the revenue to attribute undisclosed income, the facts and circumstances of the instant case, we hereby allow the appeal of the assessee.
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