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TMI Blog2018 (11) TMI 1493X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of such amounts received. In such circumstances, we are of the opinion that the order of the Tribunal cannot be interfered with and we refuse to answer the question raised, which is merely on facts and not on law. The statement was confronted to the assessee, but he denied the same. The AO failed to get any corroborating evidence in the search conducted in the premises of the assessee and hence we have confirmed the order of the Tribunal affirming that of the CIT (Appeals), which set aside the order of the AO. There is no warrant for a remand. The appeal would stand rejected. - ITA. No. 877 of 2009 - - - Dated:- 16-10-2018 - MR K. VINOD CHANDRAN AND MR ASHOK MENON, JJ. For The Appellant : ADVS. SRI. P. K. R. MENON, SR. COUN ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... There was no other material found by the AO to support the sworn statement of K.K.Lakshmanan. It was hence the Tribunal interfered with the re-assessment. 3. The learned Senior Counsel, Government of India (Taxes) has relied on (1954) 26 ITR 775 [Dhakeswari Cotton Mills Ltd. v. Commissioner of Income-Tax, West Bengal], (2006) 284 ITR 557 [Commissioner of Income Tax v. C.F.Thomas] and (2013) 350 ITR 71 [Commissioner of Income Tax v. O.Abdul Razak] to bring home the point that the sworn statement under Section 132(4) has evidentiary value in the proceedings under the Act and hence, the additions made cannot be set aside. It is also the contention of the Revenue that the said Lakshmanan who had given the sworn statement had disclosed ₹ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 9; in proceedings commenced under Section 158BC. The undisclosed income has to be the aggregate total income, computed on the basis of evidence found as a result of search or requisition of books of accounts or other documents and such other materials or information available with the AO, relatable to such evidence. Here, there is no evidence obtained in the search conducted in the assessee's premises. The sworn statement of another, on a search of his premises is an information available with the AO, which has to be related to such evidence as disclosed from the search or books of accounts or other documents. 6. Even going by the judgment of the Honourable Supreme Court, there cannot be a pure guess work to make an assessment wit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct of which the pakadi is said to have been paid was not examined. Based on the sworn statement of one another person, who deposed under Section 132(4) that an amount of money was given to the earlier tenant, proceedings were taken against the assessee; which was not corroborated by any other evidence. There was also no enquiry carried out to find whether such amounts were in fact received by the assessee or the assessee had any undisclosed expenditure or investment on the basis of such amounts received. In such circumstances, we are of the opinion that the order of the Tribunal cannot be interfered with and we refuse to answer the question raised, which is merely on facts and not on law. The learned Senior Counsel has also referred to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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