https://www.taxtmi.com/caselaws?id=249524 HC upheld the Tribunal's deletion of additions towards alleged unexplained cash and investment in stock made solely on the basis of a statement recorded during survey under Section 133A. The assessee's statement, recorded at the time of search, had been retracted and explained within 19 days, and the AO possessed no independent or corroborative material to support the additions. Relying on SC precedent that statements under Section 133A, taken without oath, cannot by themselves form the basis for additions, HC found no perversity in the Tribunal's view and dismissed the Revenue's appeal, deciding the matter against the Revenue. en-us Tue, 01 Jul 2014 00:00:00 +0530 Thu, 20 Nov 2025 15:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=249524 HC upheld the Tribunal's deletion of additions towards alleged unexplained cash and investment in stock made solely on the basis of a statement recorded during survey under Section 133A. The assessee's statement, recorded at the time of search, had been retracted and explained within 19 days, and the AO possessed no independent or corroborative material to support the additions. Relying on SC precedent that statements under Section 133A, taken without oath, cannot by themselves form the basis for additions, HC found no perversity in the Tribunal's view and dismissed the Revenue's appeal, deciding the matter against the Revenue. Case-Laws Income Tax Tue, 01 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=249524