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2010 (1) TMI 697 - AT - Income TaxAddition - Block assessment - Search and seizure - The issue under consideration is a pure matter of fact, calling for factual findings, including inferential, made on an appreciation of the entirety of the facts and circumstances of the case - The presumption in law is that the person signing a statement has read and understood its contents, even as the verification thereof specifically states so, and his signature signifies his agreement therewith - It needs to be borne in mind that the assessee has accepted possessing excess stock to the extent of 5075.480 gms., failing to give any explanation in its respect, save for the impugned 2105.2 gms. of gold ornaments - it was also found to be in possession of loose papers indicating purchases and sales outside books for which separate additions stood made by the Assessing Officer, though telescoped by him against the principal addition for 5075.480 gms. of gold jewellery - assessee is, thus, engaged in the unaccounted business along with the accounted one - Decided against the assessee
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