A search was carried out at business premises of assessee-company on 11-0-2014. In course of search proceedings, statement of director Shri Bannala of assessee-company was recorded under S. 132(4) admitting certain undisclosed income.  Subsequently on 4-12- 2014 statement of the Director was again recorded. In the return of income the amount disclosed was not offered. Non disclosure of income in the return of income will amount to retraction of the statement. AO  made addition to assessee’s income on basis of statement given by its director. Confirming the addition the  Tribunal held that that statement had been recorded in presence of independent witness hence the retraction was not valid . On appeal High Court held that  mere fact that director of assessee-company retracted statement at later point of time, could not make said statement unacceptable and  burden lay on assessee to show that admission made by director in his statement was wrong and such retraction had to be supported by a strong evidence showing that earlier statement was recorded under duress and coercion.  On facts as the  asessee has  failed to discharge the  burden order of Tribunal is affirmed.