Revenue Cannot Add Income Based Only on Section 132(4) Statement Without Evidence, Says Legal Precedent u/s 153A.

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....Assessment u/s 153A - undisclosed income - The only stress placed by Revenue is that the amount was accepted as undisclosed income in the statement recorded u/s 132(4) of the Act. It is a settled law that only on the basis of the statement, and without any corroborating evidence no addition of income can be made. - AT....