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2021 (7) TMI 11 - AT - Income TaxSubstantive protective additions - “substantive” and “protective” additions - Additional income - admissions or confessions made during the course of a search or survey - HELD THAT:- Since there is no even an iota of evidence; except the assessee’s survey statement forming basis of the impugned additions. Mr.Naik vehemently reiterated Revenue’s stand once again that the same are very much based on the documentary evidence found during the course of the survey. We, however, notice from a perusal of the survey statement(s) duly extracted in the corresponding assessment order(s) that the assessee(s) had made it clear that their admission was only based on rough estimation in order to avoid litigation and to purchase peace than in view of any material found/seized by the departmental authorities. CIT(A) has already placed reliance on the CBDT circulars that such admissions or confessions; as the case may be, made during the course of a search or survey does not carry any evidentiary value since it has to be only to the evidence collected only. We thus find no reason to interfere with the learned CIT(A)’s impugned conclusion deleting “substantive” and “protective” additions in issue after appreciation all the facts considered in law of the CBDT circular(s) as well as various judicial precedents quoted at the assessee’s behest. Its identical sole substantive ground in all these six cases fail therefore.
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