https://www.taxtmi.com/caselaws?id=758298 ITAT Jaipur dismissed revenue's appeal and allowed assessee's cross-objections regarding additions based on survey statements under section 131. The tribunal held that additions cannot be made solely on survey statements without corroborative evidence, following CBDT directions against pressing for surrenders. The assessee successfully explained impounded documents and provided source of payments through cheques and books of accounts. CIT(A)'s deletion of additions was upheld as the AO failed to reject properly maintained books of accounts. The tribunal allowed telescoping benefit of undisclosed income against sustained additions, deleting additional Rs. 2,59,618 based on available cash balance from previous year. en-us Mon, 05 Aug 2024 00:00:00 +0530 Tue, 20 May 2025 12:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=758298 ITAT Jaipur dismissed revenue's appeal and allowed assessee's cross-objections regarding additions based on survey statements under section 131. The tribunal held that additions cannot be made solely on survey statements without corroborative evidence, following CBDT directions against pressing for surrenders. The assessee successfully explained impounded documents and provided source of payments through cheques and books of accounts. CIT(A)'s deletion of additions was upheld as the AO failed to reject properly maintained books of accounts. The tribunal allowed telescoping benefit of undisclosed income against sustained additions, deleting additional Rs. 2,59,618 based on available cash balance from previous year. Case-Laws Income Tax Mon, 05 Aug 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=758298