https://www.taxtmi.com/caselaws?id=187724 Addition based on a survey statement was sustained where the assessee could not explain the material found during survey and had surrendered income during the proceedings. A belated retraction, made after a substantial delay and without satisfactory explanation, did not by itself displace the evidentiary value of the surrender, especially when the surrounding material supported the addition and the lower authorities had recorded concurrent findings of fact. The issue was decided against the assessee. en-us Wed, 03 Feb 2016 00:00:00 +0530 Thu, 17 Nov 2016 17:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187724 Addition based on a survey statement was sustained where the assessee could not explain the material found during survey and had surrendered income during the proceedings. A belated retraction, made after a substantial delay and without satisfactory explanation, did not by itself displace the evidentiary value of the surrender, especially when the surrounding material supported the addition and the lower authorities had recorded concurrent findings of fact. The issue was decided against the assessee. Case-Laws Income Tax Wed, 03 Feb 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187724