https://www.taxtmi.com/caselaws?id=427298 An addition for undisclosed income based on a post-search disclosure and the alleged contents of seized document BSA/1 could not be sustained where the document was not produced before the Tribunal, the assessee denied its ownership, and no corroborative material such as cash, assets, or other independent evidence was found in the search. A disclosure or admission made during search is evidentiary but not conclusive, and a retracted admission cannot support an addition without supporting material. On those facts, the statutory presumption regarding seized documents was treated as inapplicable, and the addition was deleted in favour of the assessee. en-us Tue, 30 Aug 2022 00:00:00 +0530 Tue, 06 Sep 2022 16:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=427298 An addition for undisclosed income based on a post-search disclosure and the alleged contents of seized document BSA/1 could not be sustained where the document was not produced before the Tribunal, the assessee denied its ownership, and no corroborative material such as cash, assets, or other independent evidence was found in the search. A disclosure or admission made during search is evidentiary but not conclusive, and a retracted admission cannot support an addition without supporting material. On those facts, the statutory presumption regarding seized documents was treated as inapplicable, and the addition was deleted in favour of the assessee. Case-Laws Income Tax Tue, 30 Aug 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=427298