https://www.taxtmi.com/caselaws?id=338178 The High Court dismissed the appeal challenging the addition of undisclosed income and its exclusion from book profit under Section 115JB. The Court found that the Assessing Officer's reliance on the Managing Director's retracted statement without additional evidence was insufficient. Relying solely on retracted statements for additions was deemed unsustainable based on previous decisions. As there was no further evidence supporting the addition, the Court upheld the decisions to delete the undisclosed income from the assessment, affirming the deletion from the book profit calculation under Section 115JB. en-us Mon, 16 Jan 2017 00:00:00 +0530 Fri, 27 Jan 2017 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=338178 The High Court dismissed the appeal challenging the addition of undisclosed income and its exclusion from book profit under Section 115JB. The Court found that the Assessing Officer's reliance on the Managing Director's retracted statement without additional evidence was insufficient. Relying solely on retracted statements for additions was deemed unsustainable based on previous decisions. As there was no further evidence supporting the addition, the Court upheld the decisions to delete the undisclosed income from the assessment, affirming the deletion from the book profit calculation under Section 115JB. Case-Laws Income Tax Mon, 16 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=338178