Assessment us 153A - Statement of assessee alone cannot be the ...

Section 153A: Assessee's statement alone can't justify estimated additions without corroborative evidence found during a search.

March 6, 2021

Case Laws     Income Tax     AT

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 statement given under section 131 later on and there is a delay in retracting by filing a letter and affidavit to the Income Tax Authorities as well as President of Noida Authority, but, the delay in retracting the statement is of no significance because there were no corroborative material found during the course of search - AT

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