Case Law Details
DCIT Vs Shhlok Enterprise (ITAT Surat)
The assessing officer made addition on the basis of statement recorded during the survey without any supporting evidence or any adverse material on record. The learned Commissioner (Appeals) also concluded that it is settled legal position that statement recorded during the survey has no evidence of value moreover the survey party has no power to record the statement oath. Accordingly, addition made by AO could not be sustained.
FULL TEXT OF THE ITAT JUDGEMENT
1. This appeal by Revenue is directed against the order of the learned Commissioner of Income Tax (Appeals)-1, Surat [in short “the ld. CIT(A)”] dated 04.05.2016 for the Assessment Year (AY) 2012-13. The Revenue has raised following grounds in its appeal:-
“1. The Ld. CIT(A) erred in law and on facts of the case in holding that the statement of Shri Navin H. Patel, partner of the firm recorded during survey operation on 30.08.2013 did not have any evidentiary value. Shri Patel was bound to state the truth of the facts in his statement during survey to the Authorized Officer, who is also a public servant.
Please become a Premium member. If you are already a Premium member, login here to access the full content.
