DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, JAIPUR vs. SHRI ALKESH PATNI, JAIPUR

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ITA 563/JPR/2018Status: DisposedITAT Jaipur18 March 2021AY 2014-1515 pages

In favour of the assessee: the Revenue's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal upheld the CIT(A)'s order, agreeing that statements recorded under Section 131, especially when made under pressure, should not prevail over the presumptive scheme under Section 44AD, which does not require maintenance of books of accounts. The additions were deemed to be covered by the declared gross receipts.

What were the facts?

During a search and seizure operation, the assessee, who opted for the presumptive scheme under Section 44AD, had additions made by the AO based on statements recorded under Sections 131 and 132(4). The CIT(A) deleted these additions, holding that the statements were made under pressure and the transactions were covered under Section 44AD.

What were the issues?

Whether additions made based on statements recorded under Section 131/132(4) can override the presumptive taxation scheme under Section 44AD, especially when the assessee claims the statements were made under pressure and the transactions are covered by the declared turnover.

Which sections of the Income-tax Act were involved?

Section 131,Section 132(4),Section 44AD,Section 153A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JAIPUR BENCH ‘B’, JAIPUR

Before: SHRI SANDEEP GOSIAN, JM & SHRI VIKRAM SINGH YADAV, AM vk;dj vihy la-@ITA No. 563/JP/2018

vkns'kkuqlkj@ By order,

सहायक पंजीकार@Aेेज. त्महपेजतंत

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