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2013 (3) TMI 69 - ALLAHABAD HIGH COURTAddition - retraction of statement - undisclosed income - The Tribunal vide the impugned order has held that after almost four years, retraction has been made which cannot be said to be bonafide and therefore, the Assessing Officer was justified in assessing the income of Rs. 10 lakhs as undisclosed income, which was surrendered at the time of search. - held that:- It is not the case of the appellant that the surrender of Rs. 10 lakhs as undisclosed income was obtained by the departmental authorities under coercion or any threat. It was voluntary and therefore, the retraction made after almost four years appears to be an afterthought, which had rightly been disbelieved by the Tribunal. - Decided against the assessee.
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