Statement recorded u/s 133A not an incriminating material

ACIT Vs Arun Agarwal (ITAT Lucknow) ITAT Lucknow held that statement recorded u/s 133A of the Income Tax Act is not an incriminating material for the purpose of making search assessment u/s 153A. Facts- The assessees mainly filed the petitions under Rule 27 whereby it has taken a ground that approval given by Jt. CIT u/s 153D of the Act to the order passed u/s 153A is without application of mind and hence the order passed u/s 153A is non-est and void ab initio and same may be quashed. Conclusion- The statements which have been relied by Assessing Officer have been recorded u/s 133A of the Act ...