https://www.taxtmi.com/caselaws?id=437560 The High Court dismissed the revenue's appeal challenging the deletion of an addition under section 68 of the Income Tax Act, as the assessing officer's decision was supported by evidence despite the retraction of the statement by the assessee. The Court upheld the Tribunal's decision regarding the interpretation of judgments on admissions made during search proceedings, finding them distinguishable based on factual differences. Additionally, the Court affirmed that the burden of proof remained on the assessee to establish the source of income, rejecting the revenue's argument that it shifted based on the denial of statements recorded under section 132(4) of the Income Tax Act. en-us Fri, 13 Jan 2023 00:00:00 +0530 Mon, 06 Apr 2026 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=437560 The High Court dismissed the revenue's appeal challenging the deletion of an addition under section 68 of the Income Tax Act, as the assessing officer's decision was supported by evidence despite the retraction of the statement by the assessee. The Court upheld the Tribunal's decision regarding the interpretation of judgments on admissions made during search proceedings, finding them distinguishable based on factual differences. Additionally, the Court affirmed that the burden of proof remained on the assessee to establish the source of income, rejecting the revenue's argument that it shifted based on the denial of statements recorded under section 132(4) of the Income Tax Act. Case-Laws Income Tax Fri, 13 Jan 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=437560