https://www.taxtmi.com/caselaws?id=372739 The Tribunal allowed the assessee's appeal, deleting the addition of Rs. 1,36,30,501/- based on a retracted statement recorded under section 132(4) of the Income Tax Act, 1961. It emphasized that statements made under duress and later retracted should not solely justify additions without corroborative evidence. The Tribunal also upheld the deletion of a protective addition in the husband's case, leading to the dismissal of the Revenue's appeal. The judgment highlights the necessity of corroborative evidence and the limited evidentiary value of statements obtained under pressure during search operations. en-us Fri, 21 Dec 2018 00:00:00 +0530 Fri, 28 Dec 2018 10:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=372739 The Tribunal allowed the assessee's appeal, deleting the addition of Rs. 1,36,30,501/- based on a retracted statement recorded under section 132(4) of the Income Tax Act, 1961. It emphasized that statements made under duress and later retracted should not solely justify additions without corroborative evidence. The Tribunal also upheld the deletion of a protective addition in the husband's case, leading to the dismissal of the Revenue's appeal. The judgment highlights the necessity of corroborative evidence and the limited evidentiary value of statements obtained under pressure during search operations. Case-Laws Income Tax Fri, 21 Dec 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=372739