https://www.taxtmi.com/caselaws?id=345090 The Tribunal found the retraction of surrender by the assessee valid, as coercion or pressure was not demonstrated during the surrender. The addition of Rs. 10,00,000 based on alleged discrepancies in documents was deemed incorrect as the transactions did not pertain to the relevant assessment year. Additionally, the Tribunal accepted the explanation that investments in shares, units, or mutual funds were made by the assessee's wife, leading to the deletion of the Rs. 6,30,000 addition. Consequently, the Tribunal allowed the assessee's appeal and annulled the additions, holding the retraction of surrender valid. en-us Fri, 16 Dec 2016 00:00:00 +0530 Fri, 07 Jul 2017 11:30:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=345090 The Tribunal found the retraction of surrender by the assessee valid, as coercion or pressure was not demonstrated during the surrender. The addition of Rs. 10,00,000 based on alleged discrepancies in documents was deemed incorrect as the transactions did not pertain to the relevant assessment year. Additionally, the Tribunal accepted the explanation that investments in shares, units, or mutual funds were made by the assessee's wife, leading to the deletion of the Rs. 6,30,000 addition. Consequently, the Tribunal allowed the assessee's appeal and annulled the additions, holding the retraction of surrender valid. Case-Laws Income Tax Fri, 16 Dec 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=345090