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TMI Blog2010 (4) TMI 639X X X X Extracts X X X X X X X X Extracts X X X X ..... s being jointly developed by AOP constituted by me and M/s Super House Overseas Ltd. wherein both of them had a share in the ratio of 60 per cent. and 40 per cent - In the block assessment, the diary was held to be belonging to Tariq Jamal and on that basis an income was treated as undisclosed income of Sri Tariq Jamal - on the basis of the material found at the time of search, a notice under sect ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e residence of one Sri Tariq Jamal, resident of 701, Gokul Apartments, Civil Lines, Kanpur on November 18, 1998, in which a diary was seized by the Authorised Officer. In pursuance of the search and seizure, proceedings under section 158BC have been initiated in the case of Sri Tariq Jamal. It appears that on enquiry being made, Sri Tariq Jamal stated that the said diary was related to Empire Esta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ices are being challenged by the petitioners, referred to hereinabove. 3. Heard Sri Ashish Bansal, learned counsel for the petitioners and Sri Shambhu Chopra, learned standing counsel. 3. Learned counsel for the petitioners submitted that the material on the basis of which the notices under section 158BD were issued, have been considered by the Income-tax Settlement Commission in the case of E ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... section 158BD have been issued, has been considered in the case of Empire Estate AOP by the Income-tax Settlement Commission and income arising from the said diary has been assessed to tax, no further action can be taken in the proceedings under section 158BD against the petitioners. 5. Sri Shambhu Chopra, learned standing counsel submitted that let the matter be sent back to the Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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