<h1>Madras High Court Clarifies Limited Evidentiary Value of Statements in Income Tax Surveys u/s 133A.</h1> The Madras High Court addressed issues regarding the evidentiary value of statements made during an income tax survey under Section 133A of the Income Tax Act, 1961. The court ruled that while admissions are important, they are not conclusive and can be contested by the person who made them. Unlike Section 132, which allows for sworn statements, Section 133A statements lack evidentiary value as they are not made under oath. The court emphasized that materials and statements collected under Section 133A are not conclusive evidence, highlighting the discretionary nature of the term 'may' in the provision.