9911796707
TMI Blog2013 (1) TMI 154X X X X Extracts X X X X X X X X Extracts X X X X ..... d as undisclosed income - Tribunal deleted the addition - whether Tribunal justified in holding that the income which was duly disclosed in original assessment could not form part of undisclosed income as defined in Section 158 B (b) - Held that:- Sum of Rs. 1,50,500/- received on assessee's retirement was disclosed in the regular return filed for the assessment year 1993-94 which has been taken into consideration while passing regular assessment order under section 143(3) therefore, the said amount cannot be included under sub-clause (b) of section 158B - The order of the Tribunal does not suffer from any legal infirmity. - IT APPEAL NO. 121 OF 2007 - - - Dated:- 12-12-2012 - R.K. AGRAWAL AND RAM SURAT RAM (MAURYA), JJ. A.N. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stated the facts giving rise to the present appeal are as follows: The appeal relates to the block period 1.4.1985 to 14.11.1995 in respect of the assessment made under section 158-BC of the Act. Action under section 132(1) was initiated at the residential premises of the assessee on 26.10.1995 and locker no. 413 at Allahabad Bank, Chilli Int. Road, Agra was searched on 14.11.1995. The locker was in the joint names of the assessee and his wife, Smt. Abha Sarin. A notice under section 158BC(a) of the Act was issued asking the assessee to file return of undisclosed income for the block period 1.4.1985 to 14.11.1995. In pursuance of the notice issued the assessee filed return showing total income at Rs. 11,28,989/- which included undisclose ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rther deleted the addition of Rs. 1,50,500/- on the ground that the said amount was disclosed in the regular return filed for the assessment year 1993-94 and the same has been considered in the assessment order dated 8th February, 1994 passed under Section 143 of the Act which fact has not been disputed by the Department. Thus the same cannot be said to be undisclosed income. 4. We have heard Sri S. Chopra, learned senior standing counsel for the Revenue and Sri Shekeel Ahmad, learned counsel appearing for the respondent assessee. 5. We find that under the proviso to Clause (a) of Explanation under section 158BB of the Act for the purpose of determination of undisclosed income or loss of each previous year for the purpose of aggregation ..... X X X X Extracts X X X X X X X X Extracts X X X X
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