Dismissing the appeal the court held that the assessee, while filing the return of income, had not disclosed any undisclosed income and hence, retracted the admission made by him during the course of search. Subsequent retraction from the surrender without evidence or proof of retraction was not permissible. The additions made by the AO and affirmed by the Tribunal on the basis of the statements recorded during the course of search operation under S. 132(4) was affirmed.