Court Orders Deletion of Undisclosed Income Additions Due to Insufficient Evidence and Director's Retraction.

Court Orders Deletion of Undisclosed Income Additions Due to Insufficient Evidence and Director's Retraction. https://www.taxtmi.com/highlights?id=55539 Unaccounted cash receipt - Addition on the basis of scribbling pad found during the course of search - even though the employees statement were not retracted, the same cannot be considered as an evidence which can be used against the assessee when the Managing Director of the assessee company has retracted his statement along with sworn affidavit explaining the reasons. - AO directed to delete additions made towards undisclosed income on the basis of scribbling pad - AT en-us Wed, 18 Nov 2020 09:31:28 +0530 Wed, 18 Nov 2020 09:31:28 +0530 TaxTMI RSS Generator Court Orders Deletion of Undisclosed Income Additions Due to Insufficient Evidence and Director's Retraction. https://www.taxtmi.com/highlights?id=55539 Unaccounted cash receipt - Addition on the basis of scribbling pad found during the course of search - even though the employees statement were not retracted, the same cannot be considered as an evidence which can be used against the assessee when the Managing Director of the assessee company has retracted his statement along with sworn affidavit explaining the reasons. - AO directed to delete additions made towards undisclosed income on the basis of scribbling pad - AT Highlights Income Tax Wed, 18 Nov 2020 09:31:28 +0530 https://www.taxtmi.com/highlights?id=55539