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2008 (8) TMI 897 - DELHI HIGH COURTBlock assessment u/s 154B - Addition as undisclosed income - basis of certain bank statements discovered during the ''post search inquiry'' - Gift received from non-resident individuals found in the course of a search. HELD THAT:- The Tribunal placed reliance on the decision of this Court in CIT v. Ravi Kant Jain [2001 (3) TMI 52 - DELHI HIGH COURT] hold that the computing of undisclosed income pursuant to a search operation can only be done on the basis of evidence found as a result of search. It is therefore, clear that the assessment in the block period can only be done on the basis of the evidence found as a result of search. Following the same, we feel that the finding returned by the Tribunal in the impugned judgment with regard to the bank statements cannot be interfered with. In Vishal Aggarwal [2005 (5) TMI 33 - DELHI HIGH COURT] the Tribunal in a similar situation had returned the finding that there was nothing in the assessment order to show that any evidence was found during the search to suggest that the gifts were bogus. The gifts having been declared in the returns of income, fell outside the purview of Chapter XIV-B of the Income Tax Act, 1961. In such a similar situation, this Court in Vishal Aggarwal (Supra), did not interfere with the findings and conclusions returned by the Tribunal and was of the view that no substantial question of law arose for the consideration of this Court. We also take a similar view and find that no interference with the impugned order of the Tribunal is called for on this ground also. The appeal is dismissed.
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