https://www.taxtmi.com/caselaws?id=378676 The court upheld the additions made by the Assessing Officer based on statements recorded under Section 132(4) of the Income Tax Act, 1961. The presumption under Section 292C was deemed inapplicable, and the appellant's retraction lacked sufficient evidence. Statements under Section 132(4) were considered valid evidence, unaffected by the CBDT Instruction. The appeal was dismissed in favor of the revenue, affirming the Assessing Officer's decision. en-us Fri, 31 Aug 2018 00:00:00 +0530 Wed, 06 Nov 2019 17:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=378676 The court upheld the additions made by the Assessing Officer based on statements recorded under Section 132(4) of the Income Tax Act, 1961. The presumption under Section 292C was deemed inapplicable, and the appellant's retraction lacked sufficient evidence. Statements under Section 132(4) were considered valid evidence, unaffected by the CBDT Instruction. The appeal was dismissed in favor of the revenue, affirming the Assessing Officer's decision. Case-Laws Income Tax Fri, 31 Aug 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=378676