https://www.taxtmi.com/caselaws?id=302530 The Tribunal dismissed the Revenue's appeal, confirming the deletion of additions of Rs. 3,00,00,000/- and Rs. 68,00,000/- while upholding the addition of Rs. 10,16,250/-. It emphasized the importance of corroborative evidence to support additions based on statements obtained during search operations, noting the need for procedural safeguards against coercion. The Tribunal found the assessee's retracted statement and subsequent affidavit, supported by documentary evidence and sale deeds, provided a more accurate reflection of the transactions. en-us Wed, 29 Sep 2021 00:00:00 +0530 Thu, 02 Jun 2022 16:15:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=302530 The Tribunal dismissed the Revenue's appeal, confirming the deletion of additions of Rs. 3,00,00,000/- and Rs. 68,00,000/- while upholding the addition of Rs. 10,16,250/-. It emphasized the importance of corroborative evidence to support additions based on statements obtained during search operations, noting the need for procedural safeguards against coercion. The Tribunal found the assessee's retracted statement and subsequent affidavit, supported by documentary evidence and sale deeds, provided a more accurate reflection of the transactions. Case-Laws Income Tax Wed, 29 Sep 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=302530