Survey Statements cannot be Sole Basis for Addition: ITAT Mumbai

DCIT Vs Ahinsa Infrastructure and Developers Limited (ITAT Mumbai) Survey statements cannot be only basis for making addition and the AO has to make independent enquiry and bring some corroborative material on record to support those additions Income Tax Appellate Tribunal (ITAT), Mumbai, recently adjudicated the case of DCIT Vs Ahinsa Infrastructure and Developers Limited, concerning the assessment year (AY) 2014-15. The Revenue challenged the decision of the Commissioner of Income Tax (Appeals) [CIT(A)], who had deleted two additions made by the Assessing Officer (AO): ₹4.50 crores surren...