Framing of block assessment based on only statement recorded u/s 132(4) is unsustainable

PCIT Vs Pilot Industries Limited (Delhi High Court)

Delhi High Court held that AO is not empowered to frame block assessment merely on the basis of statement recorded u/s 132(4) without reference to any other material discovered during the search and seizure operations.

Fact-

The present petition is filed by the revenue stating that the ITAT has erred in upholding the order of the CIT(A) and deleting the additions made on account of gros

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