Change in original statement cannot be relied unless supported by evidences

Brief of the case:

The Hon’ble Kerala High Court in the case of Parayil Balan Nair vs. CIT held that the change in statement made by a party on whose original statement the notice was issued to assessee cannot be relied without proper reasoning produced in support of such change.

Facts of the case:

• The case of the assessee was opened by Income Tax Department based on letter received from Mr. K.C Basheer who in his letter informed that he had paid a sum of Rs.15,00,000/- to the assessee on behalf of his brother Sri. K.C. Usman, a non-resident Indian doing business in Dubai.

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