https://www.taxtmi.com/caselaws?id=782792 ITAT Ranchi dismissed the revenue's appeal, upholding the CIT(A)'s deletion of addition made solely on the basis of a director's search statement declaring additional income. The Tribunal held that a mere admission, without corroborating incriminating material or seized documents, is insufficient to bring alleged undisclosed income to tax. It emphasized that group income can be taxed only upon proper disclosure through a revised return and supporting evidence. As no revised return was filed and no independent evidence of the alleged Rs. 6 crores income existed, the addition was unsustainable. en-us Thu, 21 Aug 2025 00:00:00 +0530 Thu, 04 Dec 2025 09:19:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=782792 ITAT Ranchi dismissed the revenue's appeal, upholding the CIT(A)'s deletion of addition made solely on the basis of a director's search statement declaring additional income. The Tribunal held that a mere admission, without corroborating incriminating material or seized documents, is insufficient to bring alleged undisclosed income to tax. It emphasized that group income can be taxed only upon proper disclosure through a revised return and supporting evidence. As no revised return was filed and no independent evidence of the alleged Rs. 6 crores income existed, the addition was unsustainable. Case-Laws Income Tax Thu, 21 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=782792