https://www.taxtmi.com/caselaws?id=120126 In a presumptive taxation case under section 44AD, income cannot be enhanced beyond the statutory presumptive rate merely because a partner made an admission during a survey under section 133A. A statement recorded in survey proceedings does not have the evidentiary value of a sworn statement under section 132(4), and any alleged on-money addition requires corroborative material showing that it represents taxable income. Where the receipts remain within the statutory limit and the returned income already exceeds the deemed minimum, no further addition is warranted. The article therefore supports deletion of the entire alleged on-money addition in the absence of supporting evidence. en-us Mon, 12 Jun 2006 00:00:00 +0530 Wed, 13 Mar 2024 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=120126 In a presumptive taxation case under section 44AD, income cannot be enhanced beyond the statutory presumptive rate merely because a partner made an admission during a survey under section 133A. A statement recorded in survey proceedings does not have the evidentiary value of a sworn statement under section 132(4), and any alleged on-money addition requires corroborative material showing that it represents taxable income. Where the receipts remain within the statutory limit and the returned income already exceeds the deemed minimum, no further addition is warranted. The article therefore supports deletion of the entire alleged on-money addition in the absence of supporting evidence. Case-Laws Income Tax Mon, 12 Jun 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=120126