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2006 (10) TMI 254 - AT - Income TaxAssessment order u/s 143(3) - additional income - survey proceedings u/s 133A - HELD THAT:- Once every purchase is collated with the sale thereof in terms of quantum as well as value, no further burden remains to be discharged by the assessee unless any discrepancy or falsity is pointed out in such collation. The Assessing Officer has not raised even a finger of doubt at this account statement furnished by the assessee during the course of assessment proceedings. That being so the only course open to the Assessing Officer was to accept the disclosed trading results. We are therefore satisfied that in the instant case the assessee has been able to discharge the heavy burden that rested upon him while retracting from offer of additional income at the time of survey. As we have pointed out earlier even at that stage the case of the assessee was that the offer was made to buy peace and not because of any concealment of income or discrepancy in accounts detected by survey authorities. Thus, we delete the addition made by the Assessing Officer and upheld by the learned CIT(A) - In the result, this appeal is allowed.
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