2013 (7) TMI 972

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..... :- In our opinion, the aforesaid question is very vague, as the undisclosed income shall be computed always on the basis of the material, which is found during the course of search. No material, which was disclosed at the time of regular assessment or block assessment period, can be relied on to arrive at the undisclosed income.
SRI KALYAN JYOTI SENGUPTA AND Ms. JUSTICE G. ROHINI JUDGMENT: .....

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..... Act, 1961, which reads as under: "158BI. The provisions of this chapter shall not apply where a search is initiated under Section 132, or books of account, other documents or any assets are requisitioned under Section 132A after the 31st day of May, 2003." In this present appeal, there is no statement or averment that the search was initiated under Section 132 or books of account, other document .....

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