Addition cannot be made Merely on Statement unless supported by documentary evidence

Concept Communication Ltd Vs DCIT (ITAT Mumbai) Conclusion – Addition cannot be made merely on the basis of the statement unless the same is supported by the documentary evidence. Statement recorded Under Section 133A of Income Tax Act, 1961 under fear/ coercion cannot be relied upon by the AO if it is not corroborated by documentary evidence. AO is bound to give the assessee an opportunity to  controvert evidence and cross examine the evidence on which department places reliance. A failure in opportunity to  cross examine can result in the order being a nullity.  Facts – Assessee is...