https://www.taxtmi.com/caselaws?id=256256 The Court dismissed the appeal, upholding the addition of undisclosed income to the assessee's total income. It emphasized the necessity of corroborative evidence to support such additions, highlighting that adverse inferences cannot solely rely on statements recorded during surveys without additional material. The Court also differentiated between search and seizure operations under Section 132 and survey operations under Section 133A of the Income Tax Act. The assessee's attempt to retract the statement made during the survey was deemed unsupported and untimely, leading to the affirmation of the undisclosed income addition in the tax assessment. en-us Tue, 27 Jan 2015 00:00:00 +0530 Mon, 05 Dec 2016 14:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=256256 The Court dismissed the appeal, upholding the addition of undisclosed income to the assessee's total income. It emphasized the necessity of corroborative evidence to support such additions, highlighting that adverse inferences cannot solely rely on statements recorded during surveys without additional material. The Court also differentiated between search and seizure operations under Section 132 and survey operations under Section 133A of the Income Tax Act. The assessee's attempt to retract the statement made during the survey was deemed unsupported and untimely, leading to the affirmation of the undisclosed income addition in the tax assessment. Case-Laws Income Tax Tue, 27 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=256256