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2017 (9) TMI 1708 - HC - Income TaxAddition on account of excess stock and unexplained investment in shop - said amount was specifically surrendered by the assessee during the course of search in statements recorded u/s 132 (4) - tribunal deleted the addition - Held that:- Tribunal has appreciated the fact and also considered the stock register and other material produced on record which has been produced today also before us, we are of the considered opinion the Tribunal being a fact finding authority has given its final finding and it will not be appropriate to disturb the same. In that view of the matter, counsel for the appellant has also relied upon order of CIT(A) but Tribunal while considering the matter has appreciated the evidence and we are of the considered opinion that it has not committed any error in deleting the income. More particularly the AO himself has observed that in the previous year the assessee has himself shown his income as reproduced above. The surrender income of ₹ 17,9500/- and assessee stock of ₹ 91,44,118/- is explained by the Tribunal. Thus the view taken by the Tribunal is required to be confirmed. The issue is answered in favour of assessee against the Department.
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