Statement recorded during survey without any supporting evidence have no Evidentiary value

DCIT Vs Shhlok Enterprise (ITAT Surat)

The assessing officer made addition on the basis of statement recorded during the survey without any supporting evidence or any adverse material on record. The learned Commissioner (Appeals) also concluded that it is settled legal position that statement recorded during the survey has no evidence of value moreover the survey party has no power to record the statement oath. Accordingly, addition made by AO could not be sustained.

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