Case Law Details
DCIT Vs Kantibhai Revidas Patel (ITAT Ahmedabad)
Ld. A.O. had used third party statement of Vikas A. Shah in framing the assessment. The statement of Shri Vikas A. Shah recorded u/s. 131(1A) not u/s. 132 of the IT Act on 14.03.2005 and 19.04.2005. The ld. A.O. had used this statement without allowing cross examination of Vikas A. Shah which is against the principle of natural justice. This land had registered document and the value has been accepted as to correct by Registering authority to the charge of stamp duty. There was no material or evidence that any on money was paid by the appellant on the transaction. Ld. A.O. had not referred this land to the DVO for determining the market value on date of registration. The statement given by Vikas A. Shah was self service statement without any supporting evidence. There was no search carried out on the appellant. The seized papers were found in the possession of Shri Vikas A. Shah. The third person evidence cannot be base for addition on the basis of any entries therein. The ld. CIT(A) had also considered following decisions:
i. Prathana Construction Pvt. Ltd. 70 TTJ 122 (Ahmadabad)
ii. Prabhat Oil Mills reported in 52 TTJ 533, (Ahmadabad)
iii. Jaindal Stainless Ltd. 9 DTR 345 (ITAT, Delhi)
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