This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Additions solely based on statement u/s 132(4) which was subsequently withdrawn is not maintainable
Case Law Details
- Case Name
- The CIT Vs Sunil Aggarwal (Delhi High Court)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Courts
- All High Courts, Delhi High Court
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Brief of the Case
Delhi High Court held In the case of The CIT vs. Sunil Aggarwal that the Assessee had an explanation for not retracting the statement earlier. He also furnished an explanation for the cash that found in the hands of his employee and this was verifiable from the books of accounts. In the circumstances, it was not open for the AO to proceed to make additions solely on the basis of the statement made under Section 132(4), which was subsequently retracted.
Facts of the Case
The Assessee is engaged in the business of plastic raw material and is carrying on the business in the name...
