No income tax additions can be made merely relying on a Retracted statement

No income tax additions can be made merely relying on a Retracted statement https://www.taxtmi.com/article/detailed?id=11444 No income tax addition under section 68 is warranted where investments as share capital, premium or warrants are explained by evidence establishing investor identity, transaction genuineness and investor creditworthiness; in a searched case under section 153A, absence of seized incriminating documents and lack of nexus established by the Assessing Officer support treating the investments as explained and deleting unexplained cash credit additions. en-us Tue, 30 May 2023 17:52:14 +0530 Tue, 30 May 2023 17:52:14 +0530 TaxTMI RSS Generator No income tax additions can be made merely relying on a Retracted statement https://www.taxtmi.com/article/detailed?id=11444 No income tax addition under section 68 is warranted where investments as share capital, premium or warrants are explained by evidence establishing investor identity, transaction genuineness and investor creditworthiness; in a searched case under section 153A, absence of seized incriminating documents and lack of nexus established by the Assessing Officer support treating the investments as explained and deleting unexplained cash credit additions. Articles Income Tax Tue, 30 May 2023 17:52:14 +0530 https://www.taxtmi.com/article/detailed?id=11444