Statement u/s 132(4) is not an incriminating material, Addition unsustainable

ACIT Vs Kuber Khadyan Pvt. Ltd. (ITAT Delhi)

Facts- The assessment u/s 153A was completed after making an addition of INR 2,47,00,000/- on account of unexplained credit u/s 68 of the Act. The only dispute is whether there was any incriminating material found during the course of the search.

Conclusion- We find that

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