https://www.taxtmi.com/caselaws?id=274545 The Tribunal upheld the addition of Rs. 38 lacs to the assessee firm's income based on a partner's statement during a survey, despite the firm's argument that the statement was made under a misunderstanding and without consultation. The Tribunal found the partner's statement binding on the firm as it was voluntarily made and not retracted. The Tribunal emphasized the lack of retraction or evidence to prove the statement incorrect, justifying the addition and dismissing the assessee's appeal. en-us Fri, 21 Oct 2016 00:00:00 +0530 Tue, 21 Aug 2018 06:37:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=274545 The Tribunal upheld the addition of Rs. 38 lacs to the assessee firm's income based on a partner's statement during a survey, despite the firm's argument that the statement was made under a misunderstanding and without consultation. The Tribunal found the partner's statement binding on the firm as it was voluntarily made and not retracted. The Tribunal emphasized the lack of retraction or evidence to prove the statement incorrect, justifying the addition and dismissing the assessee's appeal. Case-Laws Income Tax Fri, 21 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=274545