https://www.taxtmi.com/caselaws?id=463730 Cash found during search could not be added as undisclosed income solely on the basis of a retracted statement under section 132(4) when the statement was internally contradictory and later withdrawn by affidavit. The record contained no independent incriminating material or other reliable corroboration linking the cash to the assessee-company, and the rebuttable presumptions under sections 132(4A) and 292C were not enough on their own. In the absence of supporting evidence, a standalone retracted search statement was insufficient to sustain the addition, and the disputed addition was deleted. en-us Fri, 23 Sep 2022 00:00:00 +0530 Sat, 13 Sep 2025 14:26:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=463730 Cash found during search could not be added as undisclosed income solely on the basis of a retracted statement under section 132(4) when the statement was internally contradictory and later withdrawn by affidavit. The record contained no independent incriminating material or other reliable corroboration linking the cash to the assessee-company, and the rebuttable presumptions under sections 132(4A) and 292C were not enough on their own. In the absence of supporting evidence, a standalone retracted search statement was insufficient to sustain the addition, and the disputed addition was deleted. Case-Laws Income Tax Fri, 23 Sep 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=463730