| |
| The Tax Publishers2021 TaxPub(DT) 1779 (Mum-Trib) INCOME TAX ACT, 1961
Section 133A
Papers impounded during survey did not have any acceptable narration and did not bear the certificate of the assessee or any authorised person and they were merely in the nature of dumb documents having no evidentiary value and hence, could not be taken as the sole basis for making addition in the hands of the assessee.
|
Survey - Addition based on loose papers impounded during survey - Evidentiary value - Loose papers not having any acceptable narration and not bearing any certificate
During the course of survey, loose paper(s) marked as Annexure A-1 was impounded which contained the noting that 25 cheques of Rs. 1 lakh. Were to be issued on Wednesday and cash to be received on Friday after taking the commission at 2%. The assessee had not furnished any explanation regarding these loose sheets during the assessment proceedings. Accordingly, AO on the basis of the said impounded document made an addition of Rs. 25 lakhs by invoking the provisions of section 292. Held: Impounded paper did not have any acceptable narration and did not bear the certificate of the assessee or any authorised person and they were merely in the nature of dumb documents having no evidentiary value and hence, could not be taken as the sole basis for making addition in the hands of the assessee.
Relied:B Jayalakshmi v. Asstt. CIT (2018) 407 ITR 212 (Mad-HC) : 2018 TaxPub(DT) 4908 (Mad-HC)
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2010-11
IN THE ITAT, MUMBAI BENCH
 SUBSCRIBE FOR FULL CONTENT
|