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Survey Surrender & Diary Entries Held Insufficient – ₹266 Cr Addition Deleted – Statements u/s 133A Have No Evidentiary Value Without Corroboration – ITAT Amritsar
Case Law Details
- Case Name
- Varun Traders Vs DCIT (ITAT Amritsar)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2013-14
- Courts
- All ITAT, ITAT Amritsar
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Varun Traders Vs DCIT (ITAT Amritsar)
Survey Surrender & Diary Entries Held Insufficient – ₹266 Cr Addition Deleted – Statements u/s 133A Have No Evidentiary Value Without Corroboration – ITAT Amritsar
During survey u/s 133A, the assessee allegedly surrendered ₹266 lakh based on entries in a diary titled “Building Account.” The surrender was later retracted claiming coercion. AO treated the surrender as undisclosed investment and made addition, which was partly sustained by CIT(A) based on valuation report.
ITAT held that statement recorded during survey has ...
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