Assessee’s Admission not a valid Ground for Income Tax Addition: Rajasthan HC [Read Order]
The AO had relied heavily on a statement made by the broker under Section 132(4) of the Income Tax Act, where he admitted to providing such entries.
By Manu Sharma - On September 17, 2024 4:12 pm - 2 mins read
The Rajasthan High Court has recently held that an assessee’s admission cannot be treated as conclusive evidence for income tax additions in the absence of corroborating material. The Income Tax Department had appealed against an order passed by the Income Tax Appellate Tribunal ( ITAT ) on January 3, 2024, which had upheld the decision…
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