https://www.taxtmi.com/caselaws?id=185344 The Tribunal upheld the validity of the statement under section 132(4) of the Income Tax Act, 1961, as evidence, finding it voluntary and supported by independent evidence. The calculation of suppressed sales based on the statement was deemed valid, with specific issues remanded for further examination. However, the claim for deductions on partners' capital and salary was rejected. The appeals were partly allowed for statistical purposes, with certain issues referred back to the CIT(A) for review. en-us Fri, 21 Oct 2011 00:00:00 +0530 Wed, 10 Aug 2016 11:29:34 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185344 The Tribunal upheld the validity of the statement under section 132(4) of the Income Tax Act, 1961, as evidence, finding it voluntary and supported by independent evidence. The calculation of suppressed sales based on the statement was deemed valid, with specific issues remanded for further examination. However, the claim for deductions on partners' capital and salary was rejected. The appeals were partly allowed for statistical purposes, with certain issues referred back to the CIT(A) for review. Case-Laws Income Tax Fri, 21 Oct 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185344