https://www.taxtmi.com/caselaws?id=428518 ITAT Indore partly allowed the assessee's appeal. Additions for alleged unexplained loans/advances based on a survey statement and a diary were deleted, holding that a statement under s.133A has no evidentiary value and the diary was unsupported by independent enquiry. Addition on excess stock, based solely on survey statements without corroborative documents or proper stock verification, was also quashed. Addition for excess cash found during survey was confirmed. Section 115BBE was held inapplicable to the surrendered business income of Rs. 1 crore but applicable to the unexplained excess cash. Disallowance relating to fringe benefit tax u/s 40(a)(ic) was deleted, while disallowances of interest, business expenses, and excessive purchases were confirmed due to absence of submissions from the assessee. en-us Thu, 29 Sep 2022 00:00:00 +0530 Thu, 20 Nov 2025 15:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=428518 ITAT Indore partly allowed the assessee's appeal. Additions for alleged unexplained loans/advances based on a survey statement and a diary were deleted, holding that a statement under s.133A has no evidentiary value and the diary was unsupported by independent enquiry. Addition on excess stock, based solely on survey statements without corroborative documents or proper stock verification, was also quashed. Addition for excess cash found during survey was confirmed. Section 115BBE was held inapplicable to the surrendered business income of Rs. 1 crore but applicable to the unexplained excess cash. Disallowance relating to fringe benefit tax u/s 40(a)(ic) was deleted, while disallowances of interest, business expenses, and excessive purchases were confirmed due to absence of submissions from the assessee. Case-Laws Income Tax Thu, 29 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=428518