Retraction of a search surrender, when satisfactorily explained...

Retraction of a search surrender, when satisfactorily explained and unsupported by corroborative evidence, cannot alone sustain an undisclosed-income addition; the related addition was deleted. No section 14A disallowance arises where no exempt income was earned for the relevant year, and the later Explanation was prospective. Seizure of incriminating material permits assessment of total income under section 153A for completed years, including other issues. Interest for delayed remittance of tax deducted at source is compensatory and allowable as business expenditure. Depreciation on trucks used for own-goods transport must be computed at the lower prescribed rate on year-wise written-down value.