2013 (3) TMI 560

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..... ght in holding that there is nothing on record to show that the assessee had ever rebutted the presumption available under Section 132(4). At best what he is shown to have done is to file an affidavit when the matter came up before the Tribunal. - even in his letter dated 13.2.1997, the assessee did not make any reference to the earlier statements made under oath on 19.2.1996 and 29.2.1996, to whi .....

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..... of Section 132(4) of the Income Tax Act, hereinafter referred to as "the Act". That issue has been specifically considered in paragraph 13 of the impugned order. The jurisdiction of the Tribunal has been appropriately exercised to advert to the relevant materials and to consider the plea as regards that issue in its entirety. 2. The assessee's contention is that the addition of an amount of .....

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..... there is nothing on record to show that the assessee had ever rebutted the presumption available under Section 132(4). At best what he is shown to have done is to file an affidavit when the matter came up before the Tribunal. Having noticed that, we would reiterate the finding of the Tribunal that even in his letter dated 13.2.1997, the assessee did not make any reference to the earlier statemen .....

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