Court Dismisses Revenue Appeals: Unsupported Additions Based on Section 132(4) Statements Overruled in Acid Slurry Case.

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....Voluntary admission u/s.132(4) - under invoicing of sales and unaccounted purchase of acid slurry - additions made on the basis of statement u/s 132(4) without having corroborating evidence is unsustainable and accordingly we uphold the order of the Ld.CIT(A) and dismiss the appeals of the revenue on this issue. - AT....