Just a moment...

Report
ReportReport
Welcome to TaxTMI

We're migrating from taxmanagementindia.com to taxtmi.com and wish to make this transition convenient for you. We welcome your feedback and suggestions. Please report any errors you encounter so we can address them promptly.

Bars
Logo TaxTMI
>
×

By creating an account you can:

Report an Error
Type of Error :
Please tell us about the error :
Min 15 characters0/2000
TMI Blog
Home /

Tribunal Affirms No Undisclosed Income Without Corroborative Evidence; Highlights Role of Sworn Statements and Retractions.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Assessment u/s 153C - undisclosed receipts as allegedly received by the assessee - reliance on the statement of persons (from whose possession the material was seized) - The Tribunal agreed with the CIT(A) that the seized material did not directly link the assessee to the undocumented income without corroborative evidence. It emphasized the need for corroborative evidence to attribute the entries in the seized documents to the assessee and noted the lack thereof. - The Tribunal acknowledged the importance of sworn statements under section 132(4) but also recognized the significant impact of their retraction, especially when the retraction claims coercion or pressure. It concurred that statements retracted should not be solely relied upon without corroborative evidence.....