2017 (9) TMI 672

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....LE MR.JUSTICE AKIL KURESHI) 1. Assessee is in appeal against the judgement of the Income Tax Appellate Tribunal dated 28.04.2016 raising the following question for our consideration: "Whether the Appellate Tribunal has substantially erred in law and facts in confirming addition of Rs. 15,06,500/- made under section 69A of the Income Tax Act, 1961?" 2. Brief facts are that the appell....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Angadia firm was also recorded on oath. During such statement, he admitted that the assessee had handed over the said sum on 20.05.2005 at the Bilimora branch of the Angadia for delivery to Riyaz Lokhandwala at Mumbai. He also admitted that the Company had issued two receipts of Rs. 8,06,500/- and Rs. 7,00,000/- to the assessee. He could produce one of them on record. 4. The Assessing Officer a....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....e under section 161 of the Criminal Procedure Code could not have been relied upon. He in fact disowned ever having made such statement. The Tribunal did not accept the contention and dismissed the appeal. 7. Learned counsel for the appellant may be correct in contending that the statement of a person recorded by the police authority under section 161 of Cr.P.C would have limited utility. Had t....