Pre-trial bail granted where custodial period, documentary prosecution, and magistrate-triable offence favor release subject to surety and no witness ...
Allowability of Salary Exemptions: Form 16 entries can substantiate HRA and other salary exemptions, and home loan interest is deductible for a self-o...
Capital gains exemption: payment for plot, architect fees and bona fide commencement of construction can satisfy utilisation requirement and secure re...
A search statement under section 132(4) was held insufficient by itself to sustain an addition under section 69A where it was promptly retracted and no corroborative incriminating material was found. The Tribunal noted that the assessee explained the circumstances of the statement, while the Assessing Officer produced no seized jewellery, cash deposits, bank material, documentary trail, or other independent evidence to support the alleged receipt or its application. Because the addition rested only on the retracted statement and the statutory burden was not discharged by independent corroboration, the appellate deletion of the addition was upheld.
A search statement under section 132(4) was held insufficient by itself to sustain an addition under section 69A where it was promptly retracted and no corroborative incriminating material was found. The Tribunal noted that the assessee explained the circumstances of the statement, while the Assessing Officer produced no seized jewellery, cash deposits, bank material, documentary trail, or other independent evidence to support the alleged receipt or its application. Because the addition rested only on the retracted statement and the statutory burden was not discharged by independent corroboration, the appellate deletion of the addition was upheld.
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