Home Highlights March 2013 Year 2013 This

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1. Addition based on retracted statement recorded on oath u/s 132(4)/133A - Statement taken even u/s 132(4) of the Act cannot be used as conclusive evidence if it is not...

2. Seized jewellery - Applicability of Section 69A - addition on the basis of the statement made on oath under Section 132(4) - These statements of oath has not been...

3. Use of materials seized and the statement furnished by the third parties against the assessee - the opportunity for the rebuttal to the assessee for the seized documents...

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on voluntary disclosure made by the key person of the assesse group during the course of search which has subsequently been retracted - The statement...

5. Addition u/s 68 cannot be made solely based on sworn statement recorded u/s 132(4) without corroborative materials. Onus lies on the Department to collect cogent...

6. Addition on account of unaccounted cash payments u/s 69C - Addition on the basis of the statements given by four employees in the course of search u/s 132(4) - not only...

7. Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled...

8. Scope and ambit of section 132(4) - Even in relation to the very block assessment, a statement referable to Section 132(4), but retracted by the person cannot constitute...

9. Validity of statement - retraction of statement - the statement recorded u/s. 132(4) cannot be discarded merely because the retractment statements were filed. The...

10. Assessment u/s 153A - Addition made on account of disclosure of undisclosed income made u/s 132(4) - client code modifications for an unusually high number of times -...

11. Addition based on statements recorded u/s. 132(4) - Effect of retraction of statements recorded u/s. 132(4) of the Act - Taxation of capitation fee alleged to have been...

12. Assessment u/s 153A - admission made u/s 132(4) - The fundamental difference between evidentiary value of statement under S. 132(4) against the maker of statement...

13. Statement recorded u/s 133A (3)(iii) is different than the statement recorded during search and seizure u/s 132(4), both have different evidentiary value

14. Voluntary admission u/s.132(4) - under invoicing of sales and unaccounted purchase of acid slurry - additions made on the basis of statement u/s 132(4) without having...

15. 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...