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2018 (3) TMI 462 - AT - Income TaxAddition on account of surrender during the course of survey - addition on the basis of statement given by the partner of the assessee firm during the course of survey towards unaccounted purchases - Held that:- It is not disputed that there was no incriminating material found during the course of survey which could substantiate the basis of the alleged addition. We further find that during the course of assessment proceedings the assessee had fully explained the purchase of oil and lubricants. The Assessing Officer has not referred to any corroborative evidence to substantiate that there was in fact any unaccounted purchase of oil and lubricants. It has been consistently been held by Hon'ble Courts that the statement recorded during the course of survey are not sacrosanct and cannot be relied against the assessee for making addition unless supported by corroborative evidence. Addition of ₹ 3.50 lakhs have no legs to stand as it is merely based on the statement given during the course of survey without any supporting incriminating material. - Decided in favour of assessee. Addition on account of difference in the account with Petroleum Service Centre, Sausar - Held that:- Looking to the issue relating to alleged difference in the debit balance of ₹ 73,363/- and the contention of Learned counsel for the assessee for the alleged arithmetical mistake, find it justified to restore the issue raised in this ground to the file of the Assessing Officer to carry out necessary verification and also direct the assessee to produce necessary evidence including the confirmation account and the list of sundry debtors for necessary reconciliation so as to satisfy the AO. - Decided in favour for statistical purposes.
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