New User   Login      
Tax Management India .com TMI - Tax Management India. Com
Extracts
Home List
← Previous Next →

2015 (5) TMI 1043 - ITAT KOLKATA

2015 (5) TMI 1043 - ITAT KOLKATA - TMI - Addition u/s 69 - assessee was recorded u/s.133A as well as u/s.131 - value of the statement recorded during the survey - Held that:- Hon’ble Madras High Court in the case of CIT Vs. S.Khader Khan Son (2007 (7) TMI 182 - MADRAS HIGH COURT ) has considered the evidentiary value of the statement recorded during the survey and held that on the basis of the statement addition cannot be made.

Kerala High Court in the case of Paul Mathews & Sons Vs. .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

T Act, 1961. The statement recorded by an officer on oath will be used as evidence in any proceeding, whereas statement recorded u/s. 133A has not given any evidentiary value because it was recorded by the authority, which has not been empowered to administer the oath to the assessee and take sworn statement.

We are of the view that the 1st appellate authority has not committed any error while deleting the addition. The ld.DR was also unable to point out any other corroborative eviden .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

e of the revenue is that the ld. CIT(A) has erred in deleting the addition of ₹ 23 lakhs made by the AO with the aid of section 69 of the I.T Act 1961. 3. The brief facts of the case are that the assessee is engaged in the business of running a petrol pump and rice trading. It has filed his return of income on 30-09-2009 declaring total income of ₹ 22,24,550. A survey u/s. 133A of the I.T Act 1961 was carried out at the business premises of the assessee on 24-03-2009. During the surv .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

by observing as under:- 6. In this case, the appellant has filed his return along with regular books of accounts which are duly audited by an auditor u/s. 44AB of the Act and the entries therein are duly supported by evidence. The AO while framing the assessment was satisfied with the books of the appellant and did not even pass any adverse remarks on the same. There being no evidence, apart from the specious admission of disclosure obtained during survey, the impugned addition made to his tota .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

by upholding his grievance on the issue. Appellant gets a relief of ₹ 23,00,000/-. 5. The ld.DR has relied upon the order of the ld.AO, whereas the ld. Counsel for the assessee has contended that the statement recorded u/s. 133A of the I.T Act 1961 has no evidentiary value. The statement u/s. 133A of the I.T Act 1961 was recorded without any oath. Therefore, unless some other corroborative material was collected by the revenue officer, no addition can be made on the basis of alleged discl .....

X X X X X X X

Extract - Part text only
Click here to Access Full Contents

X X X X X X X

 

 

 

 

 



|| Home || Acts and Rules || Notifications || Circulars || Schedules || Tariff || Forms || Case Laws || Manuals ||

|| About us || Contact us || Disclaimer || Terms of Use || Privacy Policy || TMI Database || Members || Site Map ||

© Taxmanagementindia.com [A unit of MS Knowledge Processing Pvt. Ltd.] All rights reserved.

Go to Mobile Version