1999 (11) TMI 9

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Act, 1961 (hereinafter referred to as "the Act"), praying that the Income-tax Appellate Tribunal, New Delhi, be directed to state a case and refer the following identical question stated to be of law and to arise out of the Tribunal's order dated September 29, 1995, passed in I.T.A. Nos. 3806, 3807 and 3808/Del of 1993, for the assessment years 1985-86, 1986-87 and 198788 for the opinion of this c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....ssee and, inter alia, recorded his statement in which the assessee surrendered additional income of Rs. 15,000 for the assessment year 1985-86 and Rs. 30,000 for each of the assessment years 1986-87 and 198788. Pursuant to the survey, the Assessing Officer reopened the assessment for these years under sections 147 and 148 of the Act and proceeded to assess the aforesaid additional amounts. It appe....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... during the survey was a valid statement made without any duress and, therefore, the additional income was rightly assessed. Learned counsel for the assessee-applicant contended that the assessee having retracted the statement made during the survey, it was the duty of the Assessing Officer to collect some material that there was additional income and that statement having been retracted the sa....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....upport that there was such income, this contention in our view is not correct. As held by the Supreme Court in Pullangode Rubber Produce Co. Ltd. v. State of Kerala [1973] 91 ITR 18 an admission is an extremely important piece of evidence though it is not conclusive. Therefore, a statement made voluntarily by the assessee could from the basis of assessment. The mere fact that the assessee retracte....