2007 (7) TMI 182 - MADRAS HIGH COURT

Survey at firm & one of the partners of the firm u/s 133A – difference between search u/s 133A & search u/s 132(4) - Materials collected & the statement recorded during the survey u/s 133A are not conclusive piece of evidence – on basis of circular dated 10.3.2003, Tribunal is right in holding that the statement made during a survey u/s.133A has no evidentiary value – hence solely on basis of statement of any partner, addition made in assessment of assessee(firm) are liable to be set aside