No addition can be made on the basis of mere statement recorded during survey

RELEVANT PARAGRAPH

6. While concluding the statement, the assessee’s surrender is mentioned in the following words:-

In the above manner, total surrender in the hands of Gugnani, Trading Co. comes as under :-

i) Building A/c Rs.22,90,000. 00

ii) Stock A/c & Cash A/c Rs.15,34,000. 00

Total Rs.38,24,000. 00

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