2008 (1) TMI 886

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..... de at the request of the assessee, vide communication dated 11-5-1999, seeking opinion of this court on the following two questions : "1. Whether under the facts and circumstances of the case and in law, the Tribunal was justified in upholding the addition of ₹ 3,07,221 in respect of alleged unexplained investment in closing stock by ignoring the documents and arguments to the effect .....

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..... eized documents, and inventory taken by the authorized officers. In that view of the matter, the concentration is required on the question, as to whether the amount was surrendered at the time of search, and whether addition can be made on the basis of that surrender ? 4. Without saying much on the factual aspect, a bare look at para 7.1 of the order of the Tribunal, does show that at the time of .....

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..... ct, made disclosure by way of a calculated attempt to sidetrack the attention of the search party and, therefore, sidetracked the investigation of the discrepancy and in the return or at the assessment stage, despite the above statement under section132(4), the assessee has not disclosed this income in the return. In our view, on the basis of language of section 132(4), this addition could rightly .....

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