Statement recorded during search not incriminating document: ITAT Chandigarh

Jagbir Singh Nehra Vs DCIT (ITAT Chandigarh) ITAT Chandigarh held that mere statement recorded during the search cannot be treated as incriminating document and hence addition on the basis of the same is not sustainable. Accordingly, appeal of the assessee allowed. Facts- The Assessee is an individual dealing in trading of bananas. A search and seizure operation u/s 132 of the Income Tax Act, 1961 was conducted on 8.9.2021. During the search, statement of the Assessee was recorded in which the Assessee admitted for purchase of a property of Rs. 36 lacs against the registered title deed for an ...