https://www.taxtmi.com/caselaws?id=370031 The ITAT rejected the estimation of income solely based on a partner's statement during a survey, emphasizing that such statements lack evidentiary value. The ITAT allowed the additional income voluntarily declared by the assessee. The claim for Central Excise & Service Tax demand was dismissed as the liability was not claimed before filing the return. The ITAT also rejected the additional service tax liability for the current assessment year, stating it could be claimed in the year of payment. Overall, the ITAT partially allowed the appeal, ruling in favor of the assessee on income estimation but dismissing the tax liability claims. en-us Wed, 27 Jun 2018 00:00:00 +0530 Thu, 08 Nov 2018 10:58:13 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370031 The ITAT rejected the estimation of income solely based on a partner's statement during a survey, emphasizing that such statements lack evidentiary value. The ITAT allowed the additional income voluntarily declared by the assessee. The claim for Central Excise & Service Tax demand was dismissed as the liability was not claimed before filing the return. The ITAT also rejected the additional service tax liability for the current assessment year, stating it could be claimed in the year of payment. Overall, the ITAT partially allowed the appeal, ruling in favor of the assessee on income estimation but dismissing the tax liability claims. Case-Laws Income Tax Wed, 27 Jun 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370031