Description:
Statement of the partner and the employees of the assessee firm recorded by the AO as well as the documents seized in exercise of powers under s.131 come within the purview of evidence under s.158BB r/w s.3 of the Evidence Act and the same are admissible as evidence for the purpose of block assessment.
SOURCE:
1. www.icaihyd.org
2. HYDERABAD BRANCH OF SIRC NEWSLETTER.Volume:13 Issue:02. February, 2011, Page No.6.
Our comment:
Statement of the partnerm, employee of the assessee recorded during the Search operation is a valid evidence.
