https://www.taxtmi.com/caselaws?id=297927 The Tribunal ruled in favor of the assessee, deleting the addition to the total income based on unverified statements from a survey u/s 133A. Emphasizing the importance of concrete evidence, the Tribunal found the third-party statements unreliable and inadmissible, especially when recorded without the assessee's presence. It highlighted the necessity of incriminating material or corroborative evidence for income additions, distinguishing between various types of statements and underscoring the significance of proper procedure and legal principles in income tax assessments. The judgment safeguarded the assessee's rights by requiring solid evidence before making any additions to income. en-us Mon, 04 Jul 2016 00:00:00 +0530 Thu, 30 Sep 2021 21:21:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=297927 The Tribunal ruled in favor of the assessee, deleting the addition to the total income based on unverified statements from a survey u/s 133A. Emphasizing the importance of concrete evidence, the Tribunal found the third-party statements unreliable and inadmissible, especially when recorded without the assessee's presence. It highlighted the necessity of incriminating material or corroborative evidence for income additions, distinguishing between various types of statements and underscoring the significance of proper procedure and legal principles in income tax assessments. The judgment safeguarded the assessee's rights by requiring solid evidence before making any additions to income. Case-Laws Income Tax Mon, 04 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=297927