https://www.taxtmi.com/caselaws?id=768496 In block assessment arising from a search, an addition cannot rest solely on a statement recorded under section 132(4) unless supported by incriminating material found in the search; the statement is evidence but not, by itself, a sufficient basis for addition. The discussion also notes that surcharge under section 113 of the Income-tax Act applies only prospectively to searches conducted on or after 01.06.2002, following the governing Supreme Court position. The challenged assessment additions were therefore set aside in favour of the assessee. en-us Thu, 21 Nov 2024 00:00:00 +0530 Tue, 08 Apr 2025 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=768496 In block assessment arising from a search, an addition cannot rest solely on a statement recorded under section 132(4) unless supported by incriminating material found in the search; the statement is evidence but not, by itself, a sufficient basis for addition. The discussion also notes that surcharge under section 113 of the Income-tax Act applies only prospectively to searches conducted on or after 01.06.2002, following the governing Supreme Court position. The challenged assessment additions were therefore set aside in favour of the assessee. Case-Laws Income Tax Thu, 21 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=768496