1984 (8) TMI 34

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..... toms authorities carried out a search of his residence and seized 98 gold bars and some currency notes. Information in this regard was passed on to the ITO concerned. The Income-tax Appellate Tribunal found that the correspondence between the ITO and the Directorate of Inspection showed that the assessee had stated before the ITO that some gold and currency had been seized from him. The correspond .....

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..... ssee's appeal and declined to refer the following questions : " (a) Whether, on the facts and in the circumstances of the case, the Tribunal was right in law in cancelling the reassessment under section 147(a) of the Income-tax Act, 1961, on the ground that the Income-tax Officer had no reason to believe that any income had escaped assessment due to omission or failure of the assessee to disclos .....

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