https://www.taxtmi.com/caselaws?id=221794 The Tribunal's rejection of the assessee's plea regarding a statement under Section 132(4) of the Income Tax Act was upheld. The addition of Rupees nine lakhs based on the recorded statement was deemed sustainable, as the assessee's explanation regarding the amount paid to daughters was found inadequate. The failure to retract the statement within a relevant period was considered crucial, leading to the confirmation of the amount's addition. The Court emphasized the importance of timely and consistent responses in statutory matters, resulting in the dismissal of the appeal without further arguments. en-us Tue, 19 Jun 2012 00:00:00 +0530 Sat, 30 Mar 2013 09:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=221794 The Tribunal's rejection of the assessee's plea regarding a statement under Section 132(4) of the Income Tax Act was upheld. The addition of Rupees nine lakhs based on the recorded statement was deemed sustainable, as the assessee's explanation regarding the amount paid to daughters was found inadequate. The failure to retract the statement within a relevant period was considered crucial, leading to the confirmation of the amount's addition. The Court emphasized the importance of timely and consistent responses in statutory matters, resulting in the dismissal of the appeal without further arguments. Case-Laws Income Tax Tue, 19 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=221794