Hon’ble Tribunal held that it is a settled proposition of law that the statement recorded under Section 131 during the course of survey has no evidentiary value in the absence of any corroborative evidence on record vide CIT v. S. Khader Khan 300 ITR 157 (Mad.). The Officer is not authorised to administer the oath and to take sworn statement which alone has evidentiary value as contemplated under law and such statement so recorded can be used in evidence under the Act. Therefore, the statement of one of the partners of the assessee firm without any corroborative evidence for the purpose of invoking the deeming provisions of Section 69B of the Act. Hon’ble Tribunal further held that there was a clear affirmation that land and building was purchased in the year 2014 and was reflected in the books of account. Further, in order to buy peace of mind and avoid litigation, an amount of Rs.45 lakhs was offered on account of addition made to factory building and source whereof has been stated to be out of business income and the deeming provisions, therefore, cannot be invoked in the instant case. Hon’ble Tribunal further held that provisions of Section 69B read with Section 115BBE cannot be invoked in the instant case. (AY. 2018 -19)