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TMI Blog2016 (6) TMI 959X X X X Extracts X X X X X X X X Extracts X X X X ..... t proceedings and the Tribunal also committed serious error in invoking Section 158BD of the Act as the case would lie under Section 158BC of the Act. Consequently, the Question raised in this appeal is answered in the negative, i.e. in favour of the assessee and against the Revenue. - TAX APPEAL NO. 1251 of 2005 - - - Dated:- 9-6-2016 - MR. KS JHAVERI AND MR. G.R.UDHWANI, JJ. FOR THE APPELLANT : MR BS SOPARKAR FOR MRS SWATI SOPARKAR, ADVOCATE FOR THE OPPONENT : MR SUDHIR M MEHTA, ADVOCATE ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE KS JHAVERI) 1. This Tax Appeal is filed under Section 260A of the Income-tax Act, 1961 challenging the order dated 13.09.2004 passed by the Income Tax Appellate Tribunal, Ahmedabad ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e assessee filed his reply to the said Notice. However, the Assessing Officer did not find any substance in the reply and passed assessment u/s.158BC(c) of the Act and issued penalty notice u/s.158BFA(2) of the Act, vide order dated 27.12.2000. 3. Being aggrieved by the aforesaid order, the assessee filed appeal before the CIT(A). The CIT(A) partly allowed the appeal of assessee vide order dated 02.05.2001. Against the said order, the Revenue preferred appeal before the Tribunal. The Tribunal allowed the appeal filed by the Revenue and set aside the order of CIT(A) vide order dated 13.09.2004. It is against the aforesaid order of the Tribunal that the present appeal has been preferred by the assessee. 4. We have heard learned counsel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... found during search should indicate the factum of nondisclosure on the part of the assessee. Section 158BA does not authorize the Assessing Officer to assume jurisdiction on a particular issue unless some direct evidence comes to the knowledge of the Department as a result of search, which may indicate the factum of undisclosed income. Without such evidence / material, the Assessing Officer is not empowered to draw any presumption as to the existence of undisclosed income. 8. In the present case, admittedly, no evidence indicating charging of on money by the assessee on the sale of shop was found during the search. Only one document, viz. Deed of partnership, was found, which was not sufficient to prove the alleged irregularity on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
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