https://www.taxtmi.com/caselaws?id=465265 HC dismissed the Revenue's appeal and upheld the ITAT's deletion of addition u/s 68, holding that an addition cannot rest solely on a retracted statement recorded u/s 132(4) during a search. The assessee had retracted the statement after five months, and no corroborative material or independent evidence was produced by the Department. Applying the test of human probabilities against the Revenue, HC held that the ITAT's conclusion-that a retracted search statement, in isolation, is insufficient to justify addition-raised no substantial question of law and warranted no interference. en-us Tue, 17 May 2022 00:00:00 +0530 Fri, 12 Dec 2025 20:19:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=465265 HC dismissed the Revenue's appeal and upheld the ITAT's deletion of addition u/s 68, holding that an addition cannot rest solely on a retracted statement recorded u/s 132(4) during a search. The assessee had retracted the statement after five months, and no corroborative material or independent evidence was produced by the Department. Applying the test of human probabilities against the Revenue, HC held that the ITAT's conclusion-that a retracted search statement, in isolation, is insufficient to justify addition-raised no substantial question of law and warranted no interference. Case-Laws Income Tax Tue, 17 May 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=465265