Satya Narayan Choudhary & Anr. vs Assistant Commissioner Of Income Tax & Anr.

Authority: ITAT Tribunal/Court: Jodhpur Date: 2020-03-19 AY: 2012-13, 2013-14, 2014-15, 2015-16, 2016-17, 2017-18 Section: 69, 69A, 133A Acts: Income Tax Act 1961, Section 69, Section 69A, Section 115BBE, Section 132(4), Section 133A, Section 142A, Section 143(3), Section 153A Result: Assessee Citation: (2020) 58 CCH 0364 JodhTrib (2020) 207 TTJ 0453 (Jd) : (2020) 193 DTR 0353 (Jd)(Trib) : (2020) 89 ITR (Trib) 0095 (Jodhpur) Justices: R. C. SHARMA, AM & SANDEEP GOSAIN, JM. Appeal No: ITA No. 266/Jodh/2019, 392/Jodh/2019
Whether addition under Section 69/69A can be sustained based solely on retracted statement recorded during search without corroborative evidence --- Held No. Whether income from property transaction by a real estate business should be treated as business income rather than unexplained money/investment --- Held Yes.

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