Home Highlights February 2013 Year 2013 This

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1. Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled...

2. Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

3. Addition based on retracted statement recorded on oath u/s 132(4)/133A - Statement taken even u/s 132(4) of the Act cannot be used as conclusive evidence if it is not...

4. Assessment u/s 153A - Addition u/s 68 - bogus LTCG - Except the statement of the assessee u/s. 132(4) agreeing for the addition there is no seized incriminating material...

5. 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...

6. Statement recorded u/s 133A (3)(iii) is different than the statement recorded during search and seizure u/s 132(4), both have different evidentiary value

7. Voluntary admission u/s.132(4) - under invoicing of sales and unaccounted purchase of acid slurry - additions made on the basis of statement u/s 132(4) without having...

8. Addition based on statements recorded u/s. 132(4) - Effect of retraction of statements recorded u/s. 132(4) of the Act - Taxation of capitation fee alleged to have been...

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

10. Undisclosed Income - scope of statements recorded u/s 132(4) - admission of payment of Capitation Fee to the Engineering College does not mean ipso facto declaration of...