https://www.taxtmi.com/caselaws?id=778067 ITAT CHENNAI - AT held that additions under ss. 69A and 69B based solely on statements recorded u/s 133A and survey admissions were unsustainable. The tribunal found the AO and FAA relied on sweeping assertions without corroborative evidence or demonstration of defects in the books; disclosed amounts had been incorporated into the audited accounts and increases in GP/NP ratios were attributable to offered income. Consequently the impugned additions for excess stock and cash were deleted, the orders of lower authorities were set aside, and the assessee's appeals were allowed. en-us Wed, 15 Jan 2025 00:00:00 +0530 Wed, 10 Sep 2025 08:39:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=778067 ITAT CHENNAI - AT held that additions under ss. 69A and 69B based solely on statements recorded u/s 133A and survey admissions were unsustainable. The tribunal found the AO and FAA relied on sweeping assertions without corroborative evidence or demonstration of defects in the books; disclosed amounts had been incorporated into the audited accounts and increases in GP/NP ratios were attributable to offered income. Consequently the impugned additions for excess stock and cash were deleted, the orders of lower authorities were set aside, and the assessee's appeals were allowed. Case-Laws Income Tax Wed, 15 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=778067