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2015 (12) TMI 1322 - AT - Income TaxConfession of additional income during the course of search and seizure and survey operations - Held that:- No hesitation in holding that no addition can be made merely on the basis of surrender without existence of any corroborative evidence found against the assesee. We would also like to state that the assessee had retracted by filing a written submission before the DIT, Inv.-I, New Delhi on 28.11.2006 which is 6 days after the search. There was sufficient time with the Investigation Wing to carry on the investigation and to collect the evidence against the retraction. However, records show that nothing has been done in this regard. In such a situation, the retraction of the assessee cannot be said to be invalid in absence of any incriminating documents. In view of these facts, we uphold the order of the CIT(A) stating no addition can be made merely on the basis of surrender without existence of any corroborative evidence found against the assesee - Decided in favour of assessee.
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