Mere enquiry about any loan/gift does not tantamount to detection of concealment of income

RELEVANT PARAGRAPH

15. Though a search and seizure operation was conducted on 31.05.2003, but no indiscrirninating material was found therein. It seems that consequent upon the search in response to a notice under section 153A the assessee opted that the original return be taken as a return under the aforesaid provision. Thereafter, a questionnaire was issued requiring the assessee to inter-alia file the details of loans and gifts given or taken in this year. Th

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