https://www.taxtmi.com/caselaws?id=181195 The High Court dismissed the appeal challenging the addition of Rs. 40 lakhs as additional income based solely on a statement recorded during a survey under Section 133A of the Income Tax Act. The court found the Assessing Officer erred in making the addition without corroborative material, emphasizing the lack of evidentiary value in such statements. The CIT (A) and the Tribunal's decision to delete the addition was upheld, with the High Court concluding no substantial question of law existed, leading to the dismissal of the appeal without costs. en-us Mon, 19 Nov 2012 00:00:00 +0530 Sat, 18 Mar 2023 10:20:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181195 The High Court dismissed the appeal challenging the addition of Rs. 40 lakhs as additional income based solely on a statement recorded during a survey under Section 133A of the Income Tax Act. The court found the Assessing Officer erred in making the addition without corroborative material, emphasizing the lack of evidentiary value in such statements. The CIT (A) and the Tribunal's decision to delete the addition was upheld, with the High Court concluding no substantial question of law existed, leading to the dismissal of the appeal without costs. Case-Laws Income Tax Mon, 19 Nov 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181195