Home Highlights October 2014 Year 2014 This

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1. Difference in stock found during the course the survey - addition on the basis of statements recorded during the survey u/s.133A does not empower any IT authority to...

2. Addition based on voluntary disclosure made by the key person of the assesse group during the course of search which has subsequently been retracted - The statement...

3. Addition u/s 68 - disclosure made by the assessee on the basis of documents impounded during the course of survey proceedings - The Tribunal deleted the addition holding...

4. Addition based on statement recorded during the course of survey - in the light of the CBDT Circular/Instruction and the various other decisions relied on by assessee to...

5. Addition on account of excess cash found her in the course of Survey - Once the Assessee has retracted from the statement then it was on the AO to establish beyond any...

6. Additions on the basis of Admission / statement made during survey - facts create doubt regarding the genuineness of the survey. Thus addition has been made without any...

7. Statement recorded in the course of survey does not form the sole basis for making additions in absence of supportive evidence - AT

8. Additions on the basis of statement made u/s 133A - A statement made voluntary under Section 133A of the Act cannot be retracted unless the assessee files evidence to...

9. Addition to assessee's income by enhancing closing stock value made by Assessing Officer (AO) u/s 143(3) was based solely on statement recorded during survey without any...

10. Unexplained investment - addition made on the basis of surrender/admission made by the assessee - statement recorded during survey can safely be stated to be retracted...

11. The Assessing Officer made the addition on the basis of the statement made during the course of survey, despite the fact that the addition was not based upon any...

12. Unaccounted cash receipt - Addition on the basis of scribbling pad found during the course of search - even though the employees statement were not retracted, the same...

13. Addition for cash component of interest - Reliance on statement of the assessee during survey proceedings - There is no other evidence on record except the statement of...

14. Assessment us 153A - Statement of assessee alone cannot be the basis for making any estimated additions against the assessee. May be the assessee has retracted from the...

15. Evidentiary value of a statement made on oath by the assessee for making additions - The assessee can explain or withdraw the admission, if any, made by him in such...