https://www.taxtmi.com/caselaws?id=176702 The Tribunal dismissed the revenue's appeal, upholding the CIT (A)'s decision to delete the addition of Rs. 15 crores. It was concluded that the retracted statement recorded during the search operation lacked corroborative evidence and no incriminating material was found to justify the addition. Emphasizing the importance of corroborative evidence, the Tribunal referenced judicial precedents and CBDT instructions, ultimately ruling in favor of the assessee on June 20, 2013. en-us Thu, 20 Jun 2013 00:00:00 +0530 Mon, 06 Mar 2017 12:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=176702 The Tribunal dismissed the revenue's appeal, upholding the CIT (A)'s decision to delete the addition of Rs. 15 crores. It was concluded that the retracted statement recorded during the search operation lacked corroborative evidence and no incriminating material was found to justify the addition. Emphasizing the importance of corroborative evidence, the Tribunal referenced judicial precedents and CBDT instructions, ultimately ruling in favor of the assessee on June 20, 2013. Case-Laws Income Tax Thu, 20 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=176702