Tribunal held, that the Assessing Officer had simply added the balance as on March 31, 2004 without realizing that the entire credit balance was the outcome of the purchases made during the year. In the immediately succeeding years the outstanding had been paid by the assessee. Once the purchases had been accepted as genuine and no adverse inference had been drawn, the authorities were not justified in making the addition of the balance outstanding as on March 31, 2004. Hence, the entire addition made by the Assessing Officer was to be deleted. Since the additional evidence was transmitted to the Assessing Officer and the Assessing Officer responded thereto submitting two remand reports, it could not be said that the Assessing Officer was not given any opportunity of being heard. (AY. 2004-05)