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TMI Blog2007 (8) TMI 332X X X X Extracts X X X X X X X X Extracts X X X X ..... 07 - - - Dated:- 10-8-2007 - D. MURUGESAN and P. P. S. JANARTHANA RAJA JJ. J. Narayanaswamy for the appellant. JUDGMENT The judgment of the court was delivered by P. P. S. Janarthana Raja J.- This appeal is filed under section 260A of the Income-tax Act, 1961, by the Revenue, against the order of the Income-tax Appellate Tribunal, Bench "C", Chennai, in I. T. (SS)A. No. 991/Mds/ 2004 dated June 30, 2006, raising the following substantial questions of law: "1. Whether, on the facts and circumstances of the case, the Tribunal was right in holding that even though returns were filed belatedly and hence treated as invalid, the income shown in them could not be treated as undisclosed income ? 2. Whether, on the facts and cir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 000. During the course of the assessment proceedings, the assessee had admitted the following : Amount (Rs.) (i) Towards undisclosed income of jewellery business 2,50,000 (ii) Unaccounted investment in M/s. Thangarathnam Jewellery 1,22,000 (iii) Towards unaccounted personal expenditure 1,40,000 3. The Assessing Officer determined the total undisclosed income at Rs.8,66,869. While completing the assessment, the Assessing Officer made the following additions : (i) Additions of Rs. 36,770, Rs. 51,270, Rs. 55,010 and Rs. 67,850 towards undisclosed income for the assessment years 1992-93, 1993-94, 1994-95 and 1995-96, respectively. (ii) Addition of Rs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tes for filing the return of income under section 139(1) of the Act, the actual date of filing by the assessee and the income declared for the assessment years 1992-93 to 1995-96 are as under : Asst. year Due date u/s. 139(1) Date of filing Income declared 1992-93 31.07.1992 26.03.1997 36,770 1993-94 31.07.1993 30.03.1997 51,270 1994-95 31.07.1994 30.03.1997 55,010 1995-96 31.07.1995 13.03.1998 67,850 7. From a reading of the above, it is clear that for the above assessment years, the returns were filed by the assessee only after the due dates prescribed under sections 139(1) and 139(4) of the Act. Since the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rmation showing the earning of the corresponding income and such information having been imparted by the assessee to the Assessing Officer long before the search, it would not be proper to hold that there was any undisclosed income requiring assessment under Chapter XIV-B." 8. The facts involved in the above unreported judgment of this court as well as the facts involved in the present case are the same. The Tribunal rightly followed the principles enunciated in the above unreported judgment of this court and correctly held that the Assessing Officer is wrong in determining the undisclosed income in respect of the assessment years 1992-93 to 1995-96. Hence, we find no error or illegality in the order of the Tribunal in respect of quest ..... X X X X Extracts X X X X X X X X Extracts X X X X
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