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| The Tax Publishers2021 TaxPub(DT) 0594 (Jp-Trib) INCOME TAX ACT, 1961
Section 132(4A)
Where the diary found at assessee's premises was disowned by him and also his son submitted that entries in diary were made by him only, then there was no basis for addition in hands of assessee and same was deleted. Presumption under section 132(4A) could not be drawn against him.
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Search and seizure - Diary having entries made therein found - Presumption under section 132(4A) -
During search at assessee's premises certain diary was found. Assessee disowned the entries made in the diary and submitted that entries in diary were made by Jitendra Yadav, son of assessee, who was employed with Railway Department. AO ignoring assessee's submissions, made addition in assessee's hands. Held: An affidavit of Jitendra Yadav was also submitted along with submission and in the affidavit, Jitendra Yadav clearly stated that specific entries were made by him in the diary. This discharged assessee from his liability to explain the paper, in as much as son of assessee had clearly accepted ownership of papers. Further, despite affidavit of Jitendra Yadav, no enquiry was made from Jitendra Yadav to get further clarification on these entries. In these circumstances, there was no basis for addition in hands of assessee and same was deleted. Presumption under section 132(4A) could not be drawn against him. In the result, addition in the hands of assessee was deleted.
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2014-15 & 2017-18
INCOME TAX ACT, 1961
Section 132(4A)
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