Assessing Officer on basis of such statement made\u00a0 during search proceedings made\u00a0 additions\u00a0 by treating share application money of assessee as undisclosed income. On appeal the CIT(A) deleted addition based on the retracted statement of the director and also on the ground that\u00a0 the\u00a0 Assessing Officer had failed to bring on record any evidence in support of writing with pen on printouts taken out from pen drive and there was no cash trail or any other corroborative evidence or investigation.\u00a0 Tribunal upheld\u00a0 the order of the\u00a0 Commissioner (Appeals). On appeal by the revenue dismissing the appeal the court held that\u00a0 since entire matter revolving on facts had been appreciated and re-appreciated by both Commissioner (Appeals) and Tribunal, no substantial question of law arose for consideration. \u00a0(AY. 2013-14, 2015-16)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 68 : Cash credits-Share capital-Statement during search-Statement was retracted-Order of Tribunal deleting the addition was affirmed. [S. 132(4), 260A] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-38082","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-9Ue","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38082","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=38082"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38082\/revisions"}],"predecessor-version":[{"id":38083,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/38082\/revisions\/38083"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=38082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=38082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=38082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}