SH. PARSHOTAM LAL,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, we upheld the addition totaling to Rs 18,31,800/- towards cash seized u/s 69A in A

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Charitable Trust reported at [2022] 144 taxmann.com 54 (Madras) has held as under: "Whether statement recorded under section 132(4) and later, confirmed in statement recorded under section 131, cannot be discarded simply by observing that assessees have retracted same - Held, yes - Whether such retraction is required to be made as soon as possible or immediately after statement of assessees

SH. PARSHOTAM LAL,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, we upheld the addition totaling to Rs 18,31,800/- towards cash seized u/s 69A in A

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Charitable Trust reported at [2022] 144 taxmann.com 54 (Madras) has held as under: "Whether statement recorded under section 132(4) and later, confirmed in statement recorded under section 131, cannot be discarded simply by observing that assessees have retracted same - Held, yes - Whether such retraction is required to be made as soon as possible or immediately after statement of assessees

SH. PARSHOTAM LAL,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, we upheld the addition totaling to Rs 18,31,800/- towards cash seized u/s 69A in A

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Charitable Trust reported at [2022] 144 taxmann.com 54 (Madras) has held as under: "Whether statement recorded under section 132(4) and later, confirmed in statement recorded under section 131, cannot be discarded simply by observing that assessees have retracted same - Held, yes - Whether such retraction is required to be made as soon as possible or immediately after statement of assessees

SH. PARSHOTAM LAL,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, we upheld the addition totaling to Rs 18,31,800/- towards cash seized u/s 69A in A

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Charitable Trust reported at [2022] 144 taxmann.com 54 (Madras) has held as under: "Whether statement recorded under section 132(4) and later, confirmed in statement recorded under section 131, cannot be discarded simply by observing that assessees have retracted same - Held, yes - Whether such retraction is required to be made as soon as possible or immediately after statement of assessees

SH. PARSHOTAM LAL,LUDHIANA vs. DCIT, CC-1, LUDHIANA

In the result, we upheld the addition totaling to Rs 18,31,800/- towards cash seized u/s 69A in A

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Charitable Trust reported at [2022] 144 taxmann.com 54 (Madras) has held as under: "Whether statement recorded under section 132(4) and later, confirmed in statement recorded under section 131, cannot be discarded simply by observing that assessees have retracted same - Held, yes - Whether such retraction is required to be made as soon as possible or immediately after statement of assessees

SH. LACHHMAN DASS BANSAL,BARNALA vs. DCIT, CENTRAL CIRCLE, PATIALA

The appeal of the assessee is partly allowed

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

Charitable Trust reported at [2022] 144 taxmann.com 54 (Madras) as under: "Section 132 of the Income-tax Act, 1961 - Search and seizure - General (Retraction of statement) - Assessment years 2011-12 to 2014-15 - Whether statement recorded under section 132(4) and later, confirmed in statement recorded under section 131, cannot be discarded simply by observing that assessees have retracted same

SANT KIRPAL VIDYAK MISSION,LUDHIANA vs. ITO (EXEMPTION), CHANDIGARH

In the result, the appeal of the assessee is allowed for statistical purposes

Trust are as per the objects for which registration u/s 12AA was granted\nby the Commissioner of Income Tax and whether or not the assessee fulfils the conditions for\nclaiming exemption u/s 11 and 12. If not, the AO is legally empowered to disallow the same. It is\nclarified that the power to cancel the registration u/s_12AA vests with