https://www.taxtmi.com/caselaws?id=761442 ITAT Bangalore ruled in favor of the assessee regarding additions based on search statements and unsupported expense vouchers. The AO disallowed route expenses citing lack of proper vouchers and driver unavailability, despite the assessee's Rs. 13 crore surrender. The Tribunal held that Revenue cannot shift burden to prove expense genuineness without contrary search findings. Relying on Delhi HC precedents, statements under sections 132(4) and 131(1) lack evidentiary value as incriminating material. Without corroborating evidence proving expenses were bogus or non-business related, additions are impermissible. CIT(A)'s 60% hypothetical surrender addition was deemed legally untenable. All additions were deleted and appeals allowed. en-us Wed, 30 Oct 2024 00:00:00 +0530 Sat, 09 Nov 2024 13:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=761442 ITAT Bangalore ruled in favor of the assessee regarding additions based on search statements and unsupported expense vouchers. The AO disallowed route expenses citing lack of proper vouchers and driver unavailability, despite the assessee's Rs. 13 crore surrender. The Tribunal held that Revenue cannot shift burden to prove expense genuineness without contrary search findings. Relying on Delhi HC precedents, statements under sections 132(4) and 131(1) lack evidentiary value as incriminating material. Without corroborating evidence proving expenses were bogus or non-business related, additions are impermissible. CIT(A)'s 60% hypothetical surrender addition was deemed legally untenable. All additions were deleted and appeals allowed. Case-Laws Income Tax Wed, 30 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=761442