9911796707
TMI Blog2012 (5) TMI 19X X X X Extracts X X X X X X X X Extracts X X X X ..... rately considered in the case of this assessee alone. - ITA.No. 244 of 2009 - - - Dated:- 10-2-2012 - MR.JUSTICE C.N.RAMACHANDRAN NAIR, MR.JUSTICE K.VINOD CHANDRAN, JJ. For Appellant: SRI.JOSE JOSEPH, SC, FOR INCOME TAX For Respondent: SRI.S.ARUN RAJ JUDGMENT Ramachandran Nair, J. This is an appeal filed by the Revenue against the order of the Tribunal confirming the CIT(Appeals) order cancelling block assessment made on the respondent-assessee. We have heard Senior counsel Sri.P.K.R.Menon appearing for the Revenue and Adv. Sri.Arun Raj appearing for the respondent-assessee. 2. Block assessment was made on the respondent-assessee based on evidence collected in search conducted on 29.7.1997 along with search ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rs.2,20,959/- for 1994-95 deserves to be considered because evidence available by way of realisation statement clearly establish undisclosed income received by the assessee. The clear finding is that the realisation statement recovered from the assessee's premises with the same date showed recovery of Rs.1,26,61,856/- and Rs.1,72,87,353/-. Even though both realisation statements dated 30.9.1996 disclose realisation amounts substantially different leaving a margin of around Rs.56 lakhs, the assessee could not explain as to which is the correct one. However, corroboration was rendered in the statement given by the distributor namely, Sri.P.D.Abraham who stated that actual realisation was Rs.1,72,87,353/-. It is seen that the Assessing Officer ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion of Rs.2,20,959/- towards undisclosed income from the film "Pappayude Sontham Appoose" for the year 1994-95." Following the findings above we sustain the addition of 40% share income received by the assessee from the above said film i.e. Rs.4.5 lakhs for the assessment year 1994-95. In the case of assessee's brother, we have not considered the addition for the year 1995-96 in respect of the same film as the amount involved was low. The findings therein apply to this assessee also for the year 1995-96 . Based on the findings in the above said judgment we allow this appeal in part by upholding the assessment of assessee's share of income from the firm which is 40% i.e. Rs.4.5 lakhs for the year 1994-95. For the year 1995- 96, we do not t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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