https://www.taxtmi.com/caselaws?id=458267 ITAT Raipur dismissed revenue's appeal challenging CIT(A)'s deletion of income addition based on 8% gross receipts estimation. During survey u/s 133A, assessee surrendered income at 8% of turnover but later provided complete books of accounts with supporting documents to AO. AO summarily rejected books citing manipulation without proper examination. ITAT held that confessional statements without supporting material cannot be basis for addition, following SC precedent in S Kader Khan Son case and CBDT circulars. CIT(A) correctly deleted addition as AO's rejection was based on preconceived notions rather than proper examination of submitted documents. en-us Mon, 17 Jul 2023 00:00:00 +0530 Tue, 15 Oct 2024 16:43:07 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=458267 ITAT Raipur dismissed revenue's appeal challenging CIT(A)'s deletion of income addition based on 8% gross receipts estimation. During survey u/s 133A, assessee surrendered income at 8% of turnover but later provided complete books of accounts with supporting documents to AO. AO summarily rejected books citing manipulation without proper examination. ITAT held that confessional statements without supporting material cannot be basis for addition, following SC precedent in S Kader Khan Son case and CBDT circulars. CIT(A) correctly deleted addition as AO's rejection was based on preconceived notions rather than proper examination of submitted documents. Case-Laws Income Tax Mon, 17 Jul 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=458267