https://www.taxtmi.com/caselaws?id=764378 Undisclosed income added solely on the basis of a survey statement could not be sustained where the statement was retracted and the record lacked specific incriminating material or corroborative evidence. The tribunal noted that there were no particulars of the alleged land transactions, no identification of buyers or sellers, and no material explaining how the alleged income figure was computed. Applying the principle that a confession or admission during survey does not by itself justify an addition, the tribunal held that assessment must rest on evidence, not on statement alone, and deleted the addition. en-us Mon, 25 Nov 2024 00:00:00 +0530 Thu, 09 Jan 2025 07:46:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764378 Undisclosed income added solely on the basis of a survey statement could not be sustained where the statement was retracted and the record lacked specific incriminating material or corroborative evidence. The tribunal noted that there were no particulars of the alleged land transactions, no identification of buyers or sellers, and no material explaining how the alleged income figure was computed. Applying the principle that a confession or admission during survey does not by itself justify an addition, the tribunal held that assessment must rest on evidence, not on statement alone, and deleted the addition. Case-Laws Income Tax Mon, 25 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764378