The assessee engaged in the business of manufacturing hides and its sales. A survey u/s 133A was conducted on the business premises of the assessee. During the course of survey, statement on oath of one of the Directors was recorded wherein he was forced to surrender Rs.1 crore being the amount in different denominations on different dates as advance given for the purpose of purchase of land. The amounts were entered on different pages of a pad of spiral binding. Assessee thereafter retracted his statement as well as surrendered amount soon after survey. The assessee did not include the amount surrendered in its return of income. The Assessing Officer made addition of Rs.1 crore on the basis of statement on oath of the assessee. CIT (A) affirmed the order of the Ld. AO. Aggrieved by the order of CIT (A), assessee filed an appeal before the ITAT. The Tribunal observed that in the survey a writing pad/diary was found wherein certain amounts were mentioned. However the addition of Rs.1 crore was merely on the basis of the statement. The Assessing Officer and even ld. CIT (A) whose powers are co-terminus with that of the Assessing Officer did not conducted any specific enquiry neither at the time of survey or post-survey nor was any verification carried out so as to bring forth other independent materials on record to corroborate and justify alleged transactions found in the diary. The order of the Assessing Officer was also silent as to what immoveable property was purchased by using the amounts mentioned in diary. There is no mention to amount to whom the amount was paid. In nutshell, the addition is made merely on the basis of statement of the assessee recorded u/s 133A without any conclusive evidence. In view of the same, the Tribunal deleted the addition. (ITA No.394/Lucknow/2018 & S.P. No.18/Lucknow/2018,  dt.30.11.2018, A.Y. 2015-16)