Section 153A, 153C, 132(4). If no incriminating material is found during search, no addition could be made in respect of the assessments that had become final. Statements recorded under Section 132(4) of the Act do not by themselves constitute incriminating material. PCIT Vs. ANAND KUMAR JAIN (HUF) & ORS. HIGH COURT OF DELHI on Feb 12, 2021. If any statement was to be construed as an incriminating material belonging to or pertaining to a person other than person searched (as referred to in Section 153A), then the only legal recourse available to the department was to proceed in terms of Section 153C of the Act by handing over the same to the AO who has jurisdiction over such person.
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306 total views Section 153A, 153C, 132(4). If no incriminating material is found during search, no addition could be made in respect of the assessments that had become final. Statements recorded under Section 132(4) of the Act do not by themselves…
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