Home Highlights February 2014 Year 2014 This

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1. Addition - retraction of statement - It was voluntary and therefore, the retraction made after almost four years appears to be an afterthought, which had rightly been...

2. Bogus Purchases - Credibility of Statements - The tribunal was not convinced by the appellant's argument that the initial statements were made under duress or...

3. Rejection of value and its re-determination of the duty - retraction of statements - The only thing which goes in favour of Revenue is that the Managing Director of the...

4. Retraction of statement given during survey - evidentiary value of statement recorded u/s 131 - Despite the retraction, the initial findings of the CIT(A) were largely...

5. Clandestine manufacture and removal of goods - Retraction of confession statements - appellant did not want any enquiry on the duress, etc. - during second statement,...

6. Undisclosed income - retraction of the statement - the assessee has been consistent in his statements so recorded even during the post search proceedings when his...

7. Fraudulent passing of CENVAT Credit - Retraction of the statement - The appellant has now taken a stand that the statements recorded were taken under threat or coercion...

8. Validity of retraction of the statement made in survey proceedings u/s 133A - It is always open for the revenue authorities to examine the correction of the retraction...

9. Addition on the basis of statements u/s 132(4) - presumption u/s 292C - retraction should be supported by a strong evidence stating that the earlier statement was...

10. Retraction of statement - there is no allegation of threat, force, coercion, duress or pressure being utilized by the officers to extract the statements which...

11. Smuggling - Gold of foreign origin - Absolute Confiscation - town seizure - reliability of statements/retraction of statements - The tribunal highlighted inconsistencies...

12. Seeking grant of bail - Reliability of retracted statements - In the present case as well, the question is not regarding the admissibility but the reliability. The...

13. Validity of statement - retraction of statement - the statement recorded u/s. 132(4) cannot be discarded merely because the retractment statements were filed. The...

14. Addition u/s 68 - Unexplained cash deposits - statement of the assessee admitting the income at the time of survey - subsequent retraction made by assessee - it is not...

15. Retraction made of statement - Exhibition of the mistake or error or incorrect statement, with which the earlier statement is ostensibly imbued with, a matter of fact,...