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2017 (5) TMI 311 - SUPREME COURTUndisclosed investment - statement u/s 132(4) at the time of search - whether no statement of the vendor of the assessee was recorded at the time of raid as required under Section 132(4)? - Held that:- On a perusal of the order passed by the Tribunal and that of the High Court [2015 (7) TMI 364 - KERALA HIGH COURT] it is not clear whether a statement so recorded under Section 132(4) at the time of search was available on record and that apart we do not notice anything or any analysis made by the Tribunal or the High Court with regard to the effect or revised returns filed by the vendor. The findings have been recorded written on the basis of the sworn affidavits in the statement. We are not satisfied with the analysis made by the Tribunal or that by the High Court. In our considered opinion this material on record should have been adverted to by the Tribunal as the final fact finding authority in a proper perspective keeping in view the law in the field. We remand the matter back to the Tribunal for reconsideration.
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