ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE, KOTA vs. NISHA JAIN, KOTA

ITA 378/JPR/2024Status: DisposedITAT Jaipur05 August 2024AY 2017-181 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that no addition can be made solely on the basis of a statement without corroborative evidence, especially when the statement was made during a survey under Section 133A and later retracted. The Tribunal found no perversity in the CIT(A)'s order.

What were the facts?

During a survey, the Revenue alleged that incriminating documents and a statement from Shri Naresh Jain indicated unaccounted transactions, leading to an addition of Rs. 72,00,000/-. The Revenue also challenged the deletion of an addition of Rs. 35,550/-.

What were the issues?

Whether additions can be made solely based on a statement recorded during a survey without corroborative evidence, and the evidentiary value of such statements, especially when retracted.

Which sections of the Income-tax Act were involved?

Section 131,Section 133A,Section 132(4)

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A” JAIPUR

Before: SHRI SANDEEP GOSAIN, JM & DR MITHA LAL MEENA, AM vk;dj vihy la-@ITA No. 378/JP/2024

Hearing: 22/05/2024Pronounced: 05/08/2024

PER: SANDEEP GOSAIN, JM This appeal filed by the Revenue is directed against order of the ld. CIT(A), Udaipur-2 dated 29-01-2024 for the assessment year 2017-18 raising therein following grounds of appeal. ‘’1. Whether on facts and in circumstances of the case the CIT (A) is justified in not appreciating the incriminating documents found and impounded during the survey having all the incriminating information of incriminating transactions recorded t

The order continues below.

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