Unaccounted income - no addition can be made solely on the basis ...

Income Tax

November 8, 2017

Unaccounted income - no addition can be made solely on the basis of a retracted statement made during the survey operation, particularly, when proper justification for retraction was also offered. - HC

View Source

← Previous Next →

Unaccounted income - no addition can be made solely on the basis ...

Income Tax

November 8, 2017

You may also like:

The addition was made on the basis of statement recorded during the course of survey which was subsequently retracted and since no corroborative evidence was found, no...

Addition - solely on basis of statement of any partner, addition made in assessment of assessee (firm) are liable to be set aside - SC

Addition based on voluntary disclosure made by the key person of the assesse group during the course of search which has subsequently been retracted - The statement...

Assessment us 153A - Statement of assessee alone cannot be the basis for making any estimated additions against the assessee. May be the assessee has retracted from the...

Unaccounted cash receipt - Addition on the basis of scribbling pad found during the course of search - even though the employees statement were not retracted, the same...

Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...

Clandestine removal of goods - few statements, which are not corroborated by other evidences and were subsequently retracted, cannot be the sole basis for...

Validity of assessment order - whether the AO can make additions solely relying upon the third party statement and without any further corroborative evidence - Held No - HC

Addition solely on the basis of Departmental valuation report – addition cannot be justified solely relying upon the valuation report - HC

Assessee retracting and giving proper explanation for investment, after two months - Statement made at odd hours cannot be considered as voluntary statement.

Quick Updates: