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 dat

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