Tag: statement recorded

Reopening u/s 148 was rightly done as income of the company was shifted to partnership firm to avoid tax by setting off bad debts – SLP dismissed by Supreme Court In a recent order/judgment, Hon’ble Supreme Court has dismissed the SLP filed by the assessee company against the …

Assessee has right to get complete statements recorded against him and relied upon by the Income Tax Department  during the assessment proceedings  In a recent order, the Hon’ble High Court of Karnataka directed that complete statements recorded against assessee and relied upon by the Income Tax Department  during …

Addition based on statement recorded deleted as witness did not appear for cross examination on Departments notice ABCAUS Case Law Citation:ABCAUS 3345 (2020) (07) ITAT Important case law relied upon by the parties:Kishanchand Chellaram 125 ITR 713 (SC)Andaman Timber Industries 281 CTR 214 (SC The Assessee had challenged …

Statement recorded u/s 131 though binds the assessee cannot be independently used for making addition unless corroborated by evidences – ITAT ABCAUS Case Law Citation: ABCAUS 2784 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties CIT Vs M/s. Hotel Meriya ; Produce Co. Ltd. vs …