9911796707
TMI Blog2007 (9) TMI 314X X X X Extracts X X X X X X X X Extracts X X X X ..... on 3rd Aug., 2006 in relation to the block period 1st April, 1996 to 18th Sept., 2002. 2. The only ground raised in this appeal is against the confirmation of addition of Rs. 10,000. 3. Briefly stated, the facts of the case are that a search under s. 132 was conducted on 18th Sept., 2002 in the case of Shri Om Prakash Rathi, who happens to be the father of this assessee. Only a sum of Rs. 10,0 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r the capacity of the creditor was established nor even her identification. In the next para he resorted to the provisions of s. 69 for making this addition. The learned CIT(A) confirmed the action of the AO in making this addition. 4. We have heard the rival submissions and perused the relevant material on record. It is a search case and the addition of Rs. 10,000 has been made on account of en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd to be false". A bare perusal of this definition reveals that the undisclosed income comprises of any asset or entry in the books of account or other documents which represents 'wholly or partly income or property which has not been or would not have been disclosed'. We are not concerned here with the remaining part of the definition, which deals with deduction for expenses or allowances, etc. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion in which the assessee had received a loan, which in our considered opinion does not fall within the definition of 'undisclosed income' under s. 158B(b). We, therefore, order for the deletion of this addition. 5. The order was pronounced in the open Court immediately after the conclusion of bearing on 20th Sept., 2007. 6. In the result the appeal is allowed. - - TaxTMI - TMITax - Incom ..... X X X X Extracts X X X X X X X X Extracts X X X X
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