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ITAT Hyderabad Deletes Addition Based Solely on Sec 132(4) Third-Party Statement for Lack of Corroboration
Case Law Details
- Case Name
- Nagalakshmi Devineni Vs DCIT (ITAT Hyderabad)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2023-24
- Courts
- All ITAT, ITAT Hyderabad
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Nagalakshmi Devineni Vs DCIT (ITAT Hyderabad)
Addition Based Solely on 132(4) Statement Deleted – Third-Party Statement Without Corroboration Has No Evidentiary Value – ITAT Hyderabad
ITAT deleted additions made u/s 69A relating to alleged higher purchase consideration of agricultural land, holding that the AO relied solely on statements recorded u/s 132(4) without any independent corroborative evidence. The addition was based on a tentative statement of the assessee’s son estimating land value, while the registered consideration was duly supported by banking transactions and documents. ...
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