Addition made solely on the basis of statement recorded u/s 132(4) without having corroborating evidence is unsustainable.

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Last updated: 20 January 2021
Quick Summary
The Income Tax Appellate Tribunal has ruled that any addition made to income solely based on a statement recorded under Section 132(4) of the Income Tax Act, without any corroborating evidence, is unsustainable. This means the tax authorities cannot simply rely on a taxpayer's statement during a search and seizure to add to their income without further proof.

Court :
ITAT Visakhapatnam

Brief :
These appeals are filed by the revenue against the orders of the Commissioner of Income Tax (Appeals)-3, Visakhapatnam in Appeal Nos.314 to 318 /2019-20/CIT(A)-3/VSP/2020-21 dated 31.07.2020 for the Assessment Year (A.Y.)2013-14 to 2017-18. The appeals are filed by the Revenue with the delay of 3 days along with condonation petition stating administrative reasons and requested to condone the delay.

Citation :
ITA 201/VIZ/2020

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1 Year PLAN
1999
(Excl. of GST ₹359)

2 Years PLAN
3499
(Excl. of GST ₹629)

BEST VALUE
3 Years PLAN
4999
(Excl. of GST ₹899)

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