https://www.taxtmi.com/caselaws?id=469621 A search admission under section 132(4) has evidentiary value, but additions must still be tested against the surrounding books and bank records. On the Chitravana Resorts and Belur Project advances, the Tribunal accepted that amounts routed through banking channels and reflected in records could not be sustained solely on the search statement; deletion was sustained in part, while the component of Rs. 52,76,011 was remanded for limited verification. On the Sindhur Convention Hall investment, the Tribunal held that the admitted undisclosed investment was assessable in the assessee's hands, as the statement was supported by surrounding facts and the plea for assessment in the firm's hands was not proved; the deletion was reversed. en-us Fri, 29 Nov 2024 00:00:00 +0530 Tue, 23 Jun 2026 18:04:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=469621 A search admission under section 132(4) has evidentiary value, but additions must still be tested against the surrounding books and bank records. On the Chitravana Resorts and Belur Project advances, the Tribunal accepted that amounts routed through banking channels and reflected in records could not be sustained solely on the search statement; deletion was sustained in part, while the component of Rs. 52,76,011 was remanded for limited verification. On the Sindhur Convention Hall investment, the Tribunal held that the admitted undisclosed investment was assessable in the assessee's hands, as the statement was supported by surrounding facts and the plea for assessment in the firm's hands was not proved; the deletion was reversed. Case-Laws Income Tax Fri, 29 Nov 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=469621