https://www.taxtmi.com/caselaws?id=432624 The tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order that deleted the addition of Rs. 4,87,44,948/- on account of undisclosed income. The tribunal found the revised return filed by the assessee to be valid and concluded that the addition made by the AO lacked supporting evidence from the search. It was emphasized that additions cannot be solely based on statements recorded under section 132(4) without corroborating evidence. en-us Fri, 06 Jan 2023 00:00:00 +0530 Tue, 10 Jan 2023 09:25:19 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=432624 The tribunal dismissed the Revenue's appeal, upholding the CIT(A)'s order that deleted the addition of Rs. 4,87,44,948/- on account of undisclosed income. The tribunal found the revised return filed by the assessee to be valid and concluded that the addition made by the AO lacked supporting evidence from the search. It was emphasized that additions cannot be solely based on statements recorded under section 132(4) without corroborating evidence. Case-Laws Income Tax Fri, 06 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=432624