Dismissing the appeal of the revenue Court held that, statement of third person recorded u/ s 132 (4) does not constitute incriminating material when an opportunity of cross examination was not provided. Court also held that absence of any incriminating documents found in the course of search action, deletion of addition is held to be justified.
PCIT v. Anand Kumar Jain (2021) 432 ITR 384 / 201 CTR 200 / 320 CTR 656 (Delhi)(HC) PCIT v. Anand Kumar Jain (HUF) (2021) 432 ITR 384 / 201 CTR 200 / 320 CTR 656 (Delhi)(HC) PCIT v. Satish Dev Jain (2021) 432 ITR 384 / 201 CTR 200 / 320 CTR 656 (Delhi)(HC) PCIT v. Sajan Kumar Jain (2021) 432 ITR 384 / 201 CTR 200 / 320 CTR 656 (Delhi)(HC)
S. 153A : Assessment-Search-Block assessment-Statement of third person recorded u/s.132(4) does not constitute incriminating material-Opportunity of cross examination was not provided-Absence of any incriminating documents found in the course of search action-Deletion of addition is held to be justified. [S. 132, 132(4), 153C]