Chhattisgarh HC Quashes Additions as Section 133A Survey Statements Hold No Evidentiary Value

Neetu Sharma Vs PCIT (Chhattisgarh High Court) In Neetu Sharma Vs PCIT before the Chhattisgarh High Court, the petitioner challenged the additions made to her income based on alleged excess stock and excess cash disclosed during a survey under Section 133A of the Income Tax Act, 1961. The substantial question of law framed was whether the ITAT was justified in sustaining these additions solely on a statement recorded under Section 133A. The petitioner, engaged in trading car accessories, was surveyed on 03.03.2011, after which she filed her return for A.Y. 2011-12 declaring an income of ₹13,...