Addition merely on the basis of Dumb Documents not sutainable

Smt. Rontala Tirumala Vs ACIT (ITAT Hyderabad)

ITAT finds that the statement of the M.D Shri Rontala Raji Reddy was recorded on 17.10.2014 i.e. a day after the survey on 16.10.2014 and the diaries impounded during the course of survey allegedly corroborated the statement. It is a settled position that no addition can be made solely on the basis of a statement given during the course of search or survey. In this case ITTA find that though the assessees did not retract the statement of Sri Raji Reddy by filing any letter before the Revenue Authorities, I

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