Assessee declared value of stock to bank at higher figure than shown in account books and offered explanation that submission of stock statement before bank was a routine affair and stock declared to bank was purely on estimate basis and bank relying upon stock statement granted cash credit facility and never physically verified stock.  Assessing Officer held that  value of stock declared to bank was higher than in account books made certain addition to assessee’s income on account of undisclosed investment in stock. Order was affirmed by the Tribunal.  On appeal the Court held that  the burden is  upon Assessing Officer to show that assessee had undisclosed income and merely by referring to a bank statement assessment could not have been completed.  Order of Tribunal is set aside. Followed CIT v. Acrow India Ltd  (2008) 298 ITR 447 (Bom)(HC), CIT  v. N. Swami (2000) 241 ITR 363 (Mad)(HC)  (AY. 2004-05)