2013 (5) TMI 334

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..... year for the block period, though the assessee had incurred, it was well within the taxable limit. It is by adding 10 years income, it was made to appear as if, he is evading tax. Two fact finding authorities on proper appreciation of the material on record have exposed this mistake committed by the Assessing Authority. No merit in this appeal. The substantial question of law is answered in fa .....

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..... he block period. 3. Aggrieved by the said order, the assessee preferred an appeal to the appellate authority. The appellate authority on reappreciation of the entire material on record held that the time limit for filing of the returns for the assessment year 1999-2000 was not over. The assessee has disclosed the income in the return for the assessment year 1999-2000 filed on 29.06.2001. There i .....

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..... s were correct in holding that the income detected in the course of search cannot be brought to tax as the undisclosed income for the block period despite this income not being disclosed in the normal books of accounts maintained as per Section 158BA(3) read with Section 158B(b) and that the return of income for the first time was filed for the assessment year 1999-2000 after the expiry of the per .....

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