Addition merely based on Oath made during Survey is Invalid without Supporting Evidence: ITAT [Read Order]

Addition - Oath - Survey - Supporting Evidence - ITAT - taxscan

The ITAT, Kolkata bench has held that the addition made on the basis of statement made on oath by the assessee during the course of survey cannot be the sole reason for income tax addition unless the same is supported by evidence. During the survey, the income tax team found discrepancy in stock of Rs….

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