Pr. Commissioner Of Income Tax v. M/S Vishnu Prakash R. Pungalia, P

HIGH COURT OF JUDICATURE FOR RAJASTHAN ATJODHPUR D.B. Income Tax Appeal No. 14/2021 Pr. Commissioner Of Income Tax-1, District Jodhpur ----Appellant Versus M/s Vishnu Prakash R. Pungalia, P No. 22, Subhash Colony, NewPali Road, Bhagat Ki Kothi, District Jodhpur ----Respondent For Appellant(s) : Mr. K.K. Bissa.For Respondent(s): Mr. Vikas Balia and Mr. Priyanshu Arora. HON'BLE THE CHIEF JUSTICE MR. AKIL KURESHI HON'BLE MR. JUSTICE RAMESHWAR VYAS 04/01/2022 Order This appeal is filed by the Revenue to challenge thejudgment of the Income-tax Appellate Tribunal dated 01.02.2021. The sole issue argued before us by the counsel for theRevenue pertains to deletion of a sum of Rs.3.41 crores, whichwas added by the Assessing Officer in the assessment order. Therecord would suggest that during the course of survey operation,statement of partner of the Firm was recorded under Section132(4) of the Income-tax Act, 1961 (for short, ‘the Act’) in whichhe seems to have admitted unaccounted receipts. On the basis ofthis statement, the Assessing Officer had made the addition in theassessment proceedings. CIT(A) and Appellate Tribunal deletedthe addition on the ground that as per settled law, no addition canbe made solely on the basis of the statement recorded underSection 132(4) of the Act since such statements is not recorded on oath. It is also noticed that such statement was later onretracted. It would thus emerge that the Assessing Officer hadrelied solely on a retracted statement, which was recorded underSection 132(4) of the Act. The Tribunal, therefore, correctlydeleted the addition and no question of law arises.The income-tax appeal is dismissed. (RAMESHWAR VYAS),J(AKIL KURESHI),CJ 30-a.asopa/-