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TMI Blog2008 (6) TMI 208X X X X Extracts X X X X X X X X Extracts X X X X ..... under section 158BC - 18 of 2005 - - - Dated:- 24-6-2008 - C. N. RAMACHANDRAN NAIR and V. K. MOHANAN JJ. P. Balakrishnan for the appellant. P. K. R. Menon and George K. George for the respondent. JUDGMENT The judgment of the court was delivered by C. N. RAMACHANDRAN NAIR J.- This appeal is filed by the assessee against the order of the Tribunal partly confirming and partly cancelling the Commissioner of Income-tax (Appeals)'s order on the block assessment completed on the appellant-assessee for the period commencing from 1988-89 to 1998-99. A search was carried out in the premises of the assessee, a non-resident Indian, on September 30, 1997. In the search, the Department detected massive investments made by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essment of undisclosed income only based on evidence found in the search and material information gathered in post-search enquiries made on the basis of evidence found in the search-Even though counsel cited several decisions of High Courts on this issue, we do not think on the facts of this case, the petitioner can successfully contest the assessment confirmed in appeal by the Tribunal because in the course of search investments in several items of properties and expenditure of various types were detected by the Department. However, search led to enquiry, and in the course of enquiry even though the assessee furnished detailed cash flow statement and furnished names and addresses of debtors who have advanced loans to the assessee, and also ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent is a broad proposition which even if answered in favour of the assessee is not going to the assessee in the form of any relief in appeal. Moreover, in this case we find that assessment was based on materials gathered on inspection, that is proof of Investments in landed properties and expenditure in course of time under various heads. As already stated, additions under sections 68 and 69 are also permitted in an assessment under section 158BC of the Act and all that the Assessing Officer has done is to make the assessment only in terms of the provisions of Chapter XIV-B of the Act. Moreover, except additions of two items, all other additions are cancelled by the lower authorities. 3. Therefore, we do not find any ground to interf ..... X X X X Extracts X X X X X X X X Extracts X X X X
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