|CORAM:||Joginder Singh (JM), Sanjay Arora (AM)|
|CATCH WORDS:||statement on oath, survey|
|COUNSEL:||Abhishek Tilak, Vipul Joshi|
|DATE:||December 25, 2014 (Date of pronouncement)|
|DATE:||December 1, 2014 (Date of publication)|
|FILE:||Click here to download the file in pdf format|
|S. 133A: A statement given u/s 133A(iii) is not on oath and can be retracted. Even a statement on oath does not create any estoppel and can be retracted|
On the issue whether the statement on oath u/s 133A is binding and cannot be retracted, we have to make a categorical observation, here that statement given u/s 133A is not on oath. Section 133A(iii) observes, “record a statement of any person which may be useful for, or relevant to, any proceeding under the Act”. Therefore the statement made by the managing partner to not to include the amount of Rs. 95,00,000/- in the claim of deduction would have no relevance, first on the fact that the statement was made u/s 133A. Secondly, even if the statement was recorded on oath, the assessee has prerogative to change his/its stand, after taking into consideration the facts that emerge from the papers seized or impounded. The law does not bar or create any type of estoppel, to retract from the statement, even if given on oath, if the facts are otherwise.