https://www.taxtmi.com/caselaws?id=370610 The court allowed the appeal of the revenue, ruling in favor of the revenue and against the assessee. It emphasized the importance of timely and credible retractions of statements and upheld the evidentiary value of statements recorded under Section 132(4) and Section 131 of the Income Tax Act. The deletions made by the CIT(A) and upheld by the ITAT were deemed unjustified due to the lack of supporting evidence for the retraction. en-us Tue, 30 Oct 2018 00:00:00 +0530 Mon, 02 Mar 2026 16:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370610 The court allowed the appeal of the revenue, ruling in favor of the revenue and against the assessee. It emphasized the importance of timely and credible retractions of statements and upheld the evidentiary value of statements recorded under Section 132(4) and Section 131 of the Income Tax Act. The deletions made by the CIT(A) and upheld by the ITAT were deemed unjustified due to the lack of supporting evidence for the retraction. Case-Laws Income Tax Tue, 30 Oct 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370610