Income Tax Act Section 132(4) Statements Need Corroborating Evidence for Additions to be Valid.

Income Tax Act Section 132(4) Statements Need Corroborating Evidence for Additions to be Valid. https://www.taxtmi.com/highlights?id=47131 Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled position of law that the addition cannot be sustained merely on the basis of the statement, there has to be some material corroborating the contents of the statement - absence of such material no addition permissible en-us Tue, 11 Jun 2019 19:33:02 +0530 Tue, 11 Jun 2019 19:33:02 +0530 TaxTMI RSS Generator Income Tax Act Section 132(4) Statements Need Corroborating Evidence for Additions to be Valid. https://www.taxtmi.com/highlights?id=47131 Addition on account of income surrendered as per statement u/s 132(4) - though the statement recorded u/s 132(4) has a better evidentiary value but it is also a settled position of law that the addition cannot be sustained merely on the basis of the statement, there has to be some material corroborating the contents of the statement - absence of such material no addition permissible Highlights Income Tax Tue, 11 Jun 2019 19:33:02 +0530 https://www.taxtmi.com/highlights?id=47131