https://www.taxtmi.com/caselaws?id=332494 An addition based solely on a survey statement was held unsustainable where the assessee's books and declared profit results broadly matched the estimated figure and no discrepancy or unaccounted income was found. The estimate given during survey was treated as an approximate projection, not as an admission of undisclosed income. In the absence of independent corroborative material, the statement alone could not justify the addition. The assessee's later explanation regarding partner remuneration was also consistent with the survey estimate and remained unrebutted. The addition was therefore deleted, with the matter decided in favour of the assessee and against the Revenue. en-us Wed, 10 Aug 2016 00:00:00 +0530 Mon, 19 Sep 2016 11:16:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=332494 An addition based solely on a survey statement was held unsustainable where the assessee's books and declared profit results broadly matched the estimated figure and no discrepancy or unaccounted income was found. The estimate given during survey was treated as an approximate projection, not as an admission of undisclosed income. In the absence of independent corroborative material, the statement alone could not justify the addition. The assessee's later explanation regarding partner remuneration was also consistent with the survey estimate and remained unrebutted. The addition was therefore deleted, with the matter decided in favour of the assessee and against the Revenue. Case-Laws Income Tax Wed, 10 Aug 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=332494