Survey Statement Alone Cannot Sustain Addition Without Stock Verification: ITAT Kolkata

Narayan Dalmia Vs ITO (ITAT Kolkata) ITAT Kolkata Remands Matter: Survey Statement Alone Cannot Sustain Addition Without Stock Verification In this appeal, Assessee challenged the addition made by AO based solely on a statement recorded during survey u/s 133A, where Assessee had agreed to pay ₹8,00,000 as advance tax on alleged additional income. Tribunal noted that although Assessee made such a statement, the return of income was filed strictly as per books, explaining that the stock register had not been updated on the survey date due to absence of the accountant, but was later corrected &...