Addition based on statement recorded during the course of survey ...

Case Laws Income Tax

January 28, 2022

Addition based on statement recorded during the course of survey action u/s. 133A - AO proceeded with making of addition based on the mere statement given by the assessee u/s. 133A. It is not the case of the Department that, the discrepancy if any in the valuation of closing work in progress as on date of survey, still existed in the valuation of closing work in progress as on date of end of previous year, nor no addition can be made based on discrepancies, if any, in the valuation of work in progress in the middle of previous year. This approach of the Assessing Officer does not stand to the judicial scrutiny - AT

View Source

← Previous Next →

Addition based on statement recorded during the course of survey ...

Case Laws Income Tax

January 28, 2022

You may also like:

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...

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...

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...

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...

Assessment of trust - Unaccounted fee receipts - reliance on statement recorded u/s 133A of Accountant of the Society - It is a settled law that statement recorded...

Addition of loss claimed in Future & Options (‘F&O’) - Reliance on statement of third party (Broker) recorded during survey u/s. 133A - it is trite that the statement...

Addition based on survey proceeding - Unexplained stock of gold and silver jewellery - The statement given during the course of survey is not a statement on oath as...

Admission of income pursuant to survey operation u/s 133A - If the assessee did not adhere to the surrender made during the survey, it was for the AO to bring on record...

Addition on Statement recorded during the course of survey u/s 133A - assessee itself has accepted the stand disclosed during the course of survey - Profit embedded in...

Unexplained investment u/s 69 - The materials found in the course of survey could not be the basis for making any addition in the assessment. The word “may” used in...

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...

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...

Addition of excess stock found during the course of survey - unexplained investments u/s 69 r.w.s.115BBE - The Tribunal observed that the assessee provided plausible...

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...

The addition was made on the basis of statement recorded during the course of survey which was subsequently retracted and since no corroborative evidence was found, no...

Quick Updates: