Case Law Details
Case Name : Pankaj Plastic Industies Vs I.T.O. (ITAT Kolkata)
Related Assessment Year : 2009-10
Courts :
All ITAT ITAT Kolkata
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Brief of the Case
In the case of Pankaj Plastic Industries Vs. ITO the Hon’ble Kolkata ITAT held that The materials found in the course of survey would not be the basis for making any addition in the assessment. The word “may” used in section 133A (3)(iii) of the Act makes it clear that the materials collected and statement recorded during the survey u/s 133A of the Act are not conclusive piece of evidences by itself. Thus, the Hon’ble Kolkata ITAT deleted the additions made by the Ld. AO as it held that the additions towards discripencies in stocks and scrap materials were made in...
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