THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, , GUNTUR vs. PARUCHURU SATISH KUMAR(HUF), GUNTUR

In the result, appeals filed by the Revenue and the cross objections filed by the assessee are dismissed

Bench: Shri V. Durga Rao, Hon’Ble & Shri D.S. Sunder Singh, Hon’Ble

189. The observations of the Hon'ble Madras High Court at page 197 are extracted below for kind consideration of the Hon'ble Court “If there is no corroborating documentary evidence, then statement recorded under section 132(4) of the Income tax Act, 1961, alone should not be the basis, or arriving at any adverse decision against the assessee

THE DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1,, GUNTUR vs. PARUCHURU SATISH KUMAR(HUF), GUNTUR