Tag: statement u/s 132(4)
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 …
Retraction of statement u/s 132(4) after months on the ground of coercion. Assessee must give justifiable reason and cogent material to show that admission was not voluntary. ABCAUS Case Law Citation: ABCAUS 2391 (2018) 07 ITAT The instant appeal was preferred by the assessee against the order of …
Penalty u/s 271AAA-what constitutes substantiating how undisclosed income was derived-High Court explains prerequisites of statement u/s 132(4) to avert penalty ABCAUS Case Law Citation: ABCAUS 2247 (2018) (03) HC The Revenue was aggrieved by the order of the ITAT in deleting the penalty u/s 271AAA of the Income …
Statements made by stranger-third party in search case unless connected or corroborated could not be attributed to or lead to adverse consequences-HC ABCAUS Case Law Citation: ABCAUS 2133 (2017) (11) HC A search assessment was completed in respect of a group whose premises were subjected to search and …
Distinction between statements us 132(4) and 133A explained by Delhi High Court. Quashing of reopening of concluded assessments of earlier AYs upheld ABCAUS Case Law Citation: ABCAUS 1264 (2017) (05) HC The Issue: The main contention of the appellant Revenue was that the decision of the Division Bench …
Income declared us 132(4) is voluntary offer, the statement cannot be considered as detection by the Revenue. Penalty u/s 271(1)(c) deleted by ITAT ABCAUS Case Law Citation: ABCAUS 1151 (2017) (03) ITAT Assessment Year(s) : 2006-07 and 2007-08 Date/Month of Pronouncement: March, 2017 Brief Facts of the Case: …
