The AO   conducted a search and survey at the premises of the assessee. The AO based on the statements u/s 131 of certain persons and bank statements found at the premise of the assessee made addition u/s 68. The AO had rejected the retraction affidavits filed by the assessee of the persons whose statements were obtained. On appeal, the CIT (A) deleted the addition as the statements were not corroborated with the evidence and the addition u/s 68 was made purely on the basis of the statements u/s 131. The Tribunal observed that the AO had failed to submit corroborative evidence against the retraction affidavits and the statement of third party had no evidentiary value. Further, the parties on statements of whom addition was made were cross-examined in the remand report and they admitted that the entries in the bank account relates to their own transactions. Thus, the Tribunal dismissed the appeal of the Department. (AY. 2014-15 to . 2016-17)