9911796707
TMI Blog2003 (11) TMI 27X X X X Extracts X X X X X X X X Extracts X X X X ..... Tribunal that section 158BC had been correctly invoked and that section 158BD had no application in the matter. - - - - - Dated:- 18-11-2003 - Judge(s) : D. K. JAIN., MADAN B. LOKUR JUDGMENT The judgment of the court was delivered by D. K. JAIN J. -This is an appeal by the assessee under section 260A of the Income-tax Act, 1961 (for short "the Act"), challenging the order dated August 17, 2001, passed by the Income-tax Appellate Tribunal, Delhi Bench-C, New Delhi (for short "the Tribunal") in IT(SS)A No. 49 Delhi of 1996, pertaining to C the block period ending November 17, 1995. According to the appellant, the impugned order involves the following substantial questions of law: "(1) Whether, on the facts and circumstances of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... November 17, 1995, a search and seizure operation under section 132 of the Act took place at the business premises of the assessee and the residences of its directors. During the course of search one of the documents, namely, annexure A 11, in a tabular form, containing details of certain cash transactions, was found and seized. After making some preliminary enquiries the Assessing Officer issued a notice to the assessee under section 158BC of the Act, directing it to file its return for the block period ending November 17,1995. In deference to the said notice, return was filed declaring nil income. During the course of the assessment proceedings, the assessee was asked to explain the entries regarding the cash transactions; reflected ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y the impugned order, the Tribunal has dismissed the appeal. Hence, the present appeal. Assailing the impugned order, learned counsel for the assessee has strenuously urged that though the document, annexure A 11, was found from the possession of Ved Prakash Gupta, the afore-mentioned addition on account of unexplained expenditure, on the basis of the said document, made in the hands of the assessee-company, cannot be sustained. The submission is that since the alleged incriminating document did not pertain to the assessee-company, the provisions of section 158BC of the Act were not attracted in so far as the assessee was concerned and, therefore, the assessment for the block period is null and void. It is, thus, urged that the order of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o assess the undisclosed income in accordance with the provisions of Chapter XIV-B. Section 158BC, with which we are concerned in the instant case, lays down the procedure, which the Assessing Officer is required to follow, where any search has been conducted under section 132 or requisition of the documents etc., mentioned therein is made under section 132 A. Therefore, the pre-requisite for initiation of proceedings for assessment under the Chapter is a search under section 132 or requisition of books of account, etc., and not the quantification of the "undisclosed income". Section 158BD is an enabling provision for bringing to tax any undisclosed income belonging to any person, other than the person with respect to whom search was conduc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rm the view taken by the Tribunal that section 158BC had been correctly invoked in the case of the assessee-company and that section 158BD of the Act had no application in the matter. For the foregoing reasons, we are of the view that this appeal by the assessee is wholly misconceived, as no question of law of general public importance arises nor is the issue raised such that it poses difficulty in answering it nor is the issue capable of an alternative view. As noted supra, the view of the Tribunal is based on clear provisions of law, causing no ambiguity. Thus, no substantial question of law, which is the sine qua non for the exercise of power under section 260A of the Act arises from the impugned order. We accordingly decline to ente ..... X X X X Extracts X X X X X X X X Extracts X X X X
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