2025 (3) TMI 714

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....essment Year 2006-07. 2. The first issue arising from the appeal of the assessee is regarding an addition of Rs. 1,33,37,120/- made by the AO u/s 69 of the Act. The Ld. Counsel for the assessee informed that this is the second round of appellate proceedings before this Tribunal. The Ld. Counsel explained following brief factual matrix of the case. A search action u/s 132 was conducted in the case of one Aerens Group on 17.08.2011. In response to notice u/s 153A of the Act, the assessee filed return of income declaring income of Rs. 26,69,140/-. An Hon'ble Co-ordinate Bench of this Tribunal, vide its order in ITA No.- 1235 dated 12.05.2016, restored the matter to the file of the Ld. AO for assessment denovo after giving due opportunity of....

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....rves to be over- ruled. It is the case of the assessee that the statement relied upon by the Department has no evidentiary value firstly because it was retracted the very next day and secondly that an element of coercion, threat, undue influence were attached to the same. The assessee was placed under extreme mental pressure to make the said statement. The Ld. Counsel has placed reliance upon CBDT instruction number 286/2/2003 IT(INV) dated 10.03.2003 prohibiting forced confessions not supported by credible evidence. It was further argued that notwithstanding the fact that the assessee had retracted his statement in respect of cash payments of Rs. 1,77,50,000/- for making unaccounted investment in properties, the same pertained to a period ....