https://www.taxtmi.com/caselaws?id=371436 The Tribunal held that the addition of Rs. 1 crore on account of undisclosed income, based solely on a statement recorded during a survey without corroborative evidence, was not justified. The Tribunal emphasized the necessity of corroborative evidence to support such additions and highlighted the limited evidentiary value of statements recorded under section 133A of the Income Tax Act. The Tribunal set aside the CIT(A)'s order, allowing the appeal of the assessee, and emphasized the importance of basing assessments on concrete evidence rather than confessions obtained under duress. The stay petition filed by the assessee was dismissed. en-us Fri, 30 Nov 2018 00:00:00 +0530 Tue, 04 Dec 2018 09:00:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=371436 The Tribunal held that the addition of Rs. 1 crore on account of undisclosed income, based solely on a statement recorded during a survey without corroborative evidence, was not justified. The Tribunal emphasized the necessity of corroborative evidence to support such additions and highlighted the limited evidentiary value of statements recorded under section 133A of the Income Tax Act. The Tribunal set aside the CIT(A)'s order, allowing the appeal of the assessee, and emphasized the importance of basing assessments on concrete evidence rather than confessions obtained under duress. The stay petition filed by the assessee was dismissed. Case-Laws Income Tax Fri, 30 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=371436