Dismissing the appeal of the revenue the Court held that , merely on the basis of statement u/s 132(4) during the course search proceedings additions cannot be made for alleged investment in immoveable property .Order of Tribunal deleting the addition is affirmed .
CIT v. Nirmal Kumar Agarwal ( 2018) 99 taxmann.com 291/ 259 Taxman 320 ( Raj) (HC) Editorial: SLP is granted to revenue , CIT v. Nirmal Kumar Agarwal ( 2018) 259 Taxman 320 (SC)
S. 69 :Unexplained investments -Investment in immovable property- Merely on the basis of statement u/s 132(4) during the course search proceedings additions cannot be made- Order of Tribunal deleting the addition is affirmed . [ S.132(4) ]