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Survey U/s 133A of I.T.Act

This query is : Resolved 
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(Querist)
26 October 2008 At the Time of Survey the assessee has disclosed the stock of Rs 20,0000/-as income from other sources during the financial year 2008-2009 (current year) and paid advance tax accordingly before a month,but now the assessee wants to retract from his statement recorded at the time of survey on the ground that the above stock found at the time of survey were account for and under misconception of facts disclosed this amount. As at the time of survey no books of account have been found.
Is it possible to retract the statement recorded at the time of survey.

Kindly advise me .

Ajay Kumar Dokania
Advocate
E.Mail- dokania_ajay@yahoo.co.in
+919430187545
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Bhaskaran Chackrapani Warrier

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Bhaskaran Chackrapani Warrier (Expert)
27 October 2008 Yes.The assessee has to prove the reasons for his retract.
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