Charitable registration turns on predominant purpose and genuine activities, while incidental fees and related-party rent require supporting adverse m...
MAT book-profit adjustments exclude disallowances for exempt-income expenditure and demerger expenditure unless expressly listed under the statutory c...
Omitted specified domestic transaction provision invalidates related-party expenditure transfer-pricing references and assessments based on consequent...
Preventive suspension requires an immediate continuing threat and cannot become indefinite without inquiry, fresh evidence, or proportionate safeguard...
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The High Court held that statements recorded u/s 132(4) of the Income Tax Act, 1961, are admissible evidence u/s 158BD read with Section 3 of the Indian Evidence Act, 1872, and Section 131. In the present case, the husbands of the assessees made statements during search operations that the total investment in constructing the house property was Rs. 15 lakhs, though only Rs. 7 lakhs was accounted for. The assessees reiterated this fact on 03.05.1999. Such statements are presumed true unless the assessees plead that they were obtained forcibly, by coercion, or undue influence. The burden lies on the assessees to establish that the admission is incorrect or wrong. As the assessees failed to discharge this burden, the Tribunal rightly set aside the order passed by the CIT (Appeals), deciding against the assessees.
The High Court held that statements recorded u/s 132(4) of the Income Tax Act, 1961, are admissible evidence u/s 158BD read with Section 3 of the Indian Evidence Act, 1872, and Section 131. In the present case, the husbands of the assessees made statements during search operations that the total investment in constructing the house property was Rs. 15 lakhs, though only Rs. 7 lakhs was accounted for. The assessees reiterated this fact on 03.05.1999. Such statements are presumed true unless the assessees plead that they were obtained forcibly, by coercion, or undue influence. The burden lies on the assessees to establish that the admission is incorrect or wrong. As the assessees failed to discharge this burden, the Tribunal rightly set aside the order passed by the CIT (Appeals), deciding against the assessees.
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