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2016 (10) TMI 843 - ITAT HYDERABADUnexplained investment - acceptance of revised return offering the total income - Survey operations - Held that:- Even though statements were recorded from assessee enquiring about various investments, assessee has voluntarily offered higher income for AY. 2005-06 at ₹ 10,55,100/- and filing of revised income is within the time limits permitted. - AO directed to accept the total income for the impugned assessment year as declared in the revised return which should justify the higher income offered by assessee and also cover the investments made in various other assets, including money lending activity considered by AO. - Decided partly in favour of assessee
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