https://www.taxtmi.com/caselaws?id=793816 A clear admission in a search statement under section 132(4) that Rs. 1.5 crores was additional income in the assessee's individual capacity was treated as evidentiary and was not displaced by the later return of income or a belated explanation filed about 1.5 years later. The court held that this did not amount to a prompt retraction and that supporting material was required to overcome the admission. The finding was also supported by the existence of the convention hall and the absence of material showing investment by others. The addition for unexplained investment was therefore upheld and the assessee's challenge failed. en-us Thu, 18 Jun 2026 00:00:00 +0530 Wed, 24 Jun 2026 07:08:04 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=793816 A clear admission in a search statement under section 132(4) that Rs. 1.5 crores was additional income in the assessee's individual capacity was treated as evidentiary and was not displaced by the later return of income or a belated explanation filed about 1.5 years later. The court held that this did not amount to a prompt retraction and that supporting material was required to overcome the admission. The finding was also supported by the existence of the convention hall and the absence of material showing investment by others. The addition for unexplained investment was therefore upheld and the assessee's challenge failed. Case-Laws Income Tax Thu, 18 Jun 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=793816