Retraction of Statement recorded U/s. 132(4) after long lapse- Addition justified

Pr. CIT Vs Roshan Lal Sancheti (Rajasthan High Court) it must be held that statement recorded under section 132(4) of the Act and later confirmed in statement recorded under section 131 of the Act, cannot be discarded simply by observing that the assessee has retracted the same because such retraction ought to have been generally made within reasonable time or by filing complaint to superior authorities or otherwise brought to notice of the higher officials by filing duly sworn affidavit or statement supported by convincing evidence. Such a statement when recorded at two stages cannot be disca...