#section 132
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No Addition based on mere statement recorded u/s 132(4) in the absence of Supporting evidences
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Assessment of person not searched can be carried out u/s 158BD only by issue of proper notice
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Centralisation of cases after giving Proper Opportunity to Assessee is valid
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Seizures of non-duty paid cigarette manufactured by petitioner is sufficient reason to believe for issue of search authorization
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Addition based on mere third person evidence not sustainable
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Application of seized assets – Existing liability does not include advance tax payable
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Statement recorded u/s 132(4) without corroborative evidence could not fasten any liability
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Looted amount of Assessee recovered from Police after completion of Search operations cannot be taxed under block assessment
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Addition based on mere statement of assessee recorded u/s. 132(4) not sustainable
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Section 132 – Assessing Officer has no authority to seize stock-in-trade
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Statement under section 132(4) can be retracted
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Not necessary to issue S.132 authorisation or make a requisition u/s. 132A separately in the name of each person in search cases
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Search without satisfaction of ingredients of S. 132(1) is illegal and consequently Notice action U/s. 153A of the Act is also bad in law
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