Addition based on retracted statement recorded on oath u/s ...

Income Tax

October 12, 2023

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 backed by credible evidence - AO not having any fresh information/material in his possession, merely on retracted statement formed his belief about escapement of income which is not sustainable in law. - AT

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Addition based on retracted statement recorded on oath u/s ...

Income Tax

October 12, 2023

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