Statement given during survey is not a statement on oath as given u/s. 132(4)

Alankar Jewelers Vs DCIT (ITAT Indore) The CBDT vide its circular F.No. 286/2/2003-IT (Inv.) dated 10th March 2003 has issued an advisory to its field officer regarding confession of additional income during the course of search and survey operations. Relevant portion of the above said circular is reproduced hereunder: “Instances have come to the notice of the Board where assessees have claimed that they have been forced to confess the undisclosed income during the course 0f the search and seizure and survey operations. Such confessions is not based u on credible evidence are later retra...