2023 (5) TMI 367

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..... affidavit filed by him earlier. That apart, the assessee has also filed another affidavit contending that coercive measures were resorted to and a statement from him was obtained. This retraction was taken note of by the [CIT(A)] and it has been factually recorded that there was very elaborate evidence available before the Assessing Officer to treat the said sum as undisclosed income of the assessee. The learned Tribunal on its part re-appreciated the factual position and has affirmed the order passed by the CIT(A). We find that the entire matter revolves on facts which has been appreciated and re-appreciated by the CIT(A) and the Tribunal respectively and we find that there is no substantial question of law arising for consideration .....

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..... sis of admission of the assessee and reliability, importance and sanctity of admission made during search could be refuted only be cogent and convincing evidence? iii) Whether the Learned Tribunal has committed substantial error in law by holding that when assessee makes certain allegations during the search proceeding and denies the content of statement recorded from him under section 132(4) of the Income Tax Act, 1961, the burden shifts to the revenue to prove that the same is income? We have heard Mr. Soumen Bhattacharjee, learned standing counsel for the appellant/revenue and Mr. Abhratosh Majumdar, learned senior counsel assisted by Mr. Avra Mazumdar and Mr. Kausheyo Roy, learned Advocates for the respondent/assessee. The .....

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..... nding counsel appearing for the appellant/revenue placed reliance on the decision of the High Court of Punjab and Haryana in the case of Gurdev Agro Engineers, Bhawanigarh vs. Gurdev Agro Engineers, Bhawanigarh, 2016 SCC Online P H 5506. On going through the facts in the said case, we find that in the said case the CIT(A) affirmed the order passed by the Assessing Officer after noting that during the course of survey there were several supporting documents to the voluntary statement made by the assessee therein. Furthermore, in the said case the retraction was done after three months and it was found that there was no satisfactory explanation for such delay. Hence, we find the decision in Gurdev Agro Engineers, Bhawanigarh is clearly .....

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