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2006 (6) TMI 68 - HC - Income TaxAO used certain materials collected from the bankers of assessee against them, without granting an opportunity to assessee to explain the relevancy of the material – additions were made by AO of money seized during search, on account of undisclosed income – assessee’s explaination that impugned amount were withdrawn by him from his bank account is required to be accepted – addition made are liable to be set aside as it is not a case of “no explanation” or “inadequate explanation”
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