https://www.taxtmi.com/caselaws?id=365728 The Tribunal set aside the CIT(Appeals) decision and remanded the case to the AO due to lack of concrete evidence supporting the addition of Rs. 40 lakhs to the assessee's income solely based on a survey statement. Emphasizing the need for proper verification and adherence to standard procedures, the Tribunal ruled in favor of the assessee, highlighting the importance of requiring substantial evidence to support income adjustments during survey assessments under the Income-Tax Act, 1961. en-us Fri, 17 Aug 2018 00:00:00 +0530 Wed, 22 Aug 2018 12:06:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=365728 The Tribunal set aside the CIT(Appeals) decision and remanded the case to the AO due to lack of concrete evidence supporting the addition of Rs. 40 lakhs to the assessee's income solely based on a survey statement. Emphasizing the need for proper verification and adherence to standard procedures, the Tribunal ruled in favor of the assessee, highlighting the importance of requiring substantial evidence to support income adjustments during survey assessments under the Income-Tax Act, 1961. Case-Laws Income Tax Fri, 17 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=365728