TMI Blog2006 (1) TMI 73X X X X Extracts X X X X X X X X Extracts X X X X ..... the appreciation of evidence by the Tribunal, no substantial question of law arises from its order – appeal dismissed - - - - - Dated:- 16-1-2006 - Judge(s) : D. K. JAIN., SURYAKANT. D.K. Jain C.J.- C.M. No. 22700 of 2004: For the reasons stated in the application, it is allowed and the delay in filing the appeal is condoned. I.T.A. No. 336 of 2004: This appeal, by the assessee, under section 260A of the Income-tax Act, 3 1961 (for short, "the Act"), is directed against order dated March 19, 2004, passed by the Income-tax Appellate Tribunal, Amritsar Bench (for short, "the Tribunal"), in Appeals Nos. 8 and 16 (ASR)/2003, in respect of the block period April 1, 1998 to November 17, 1999. According to the assessee, the order invo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Assessing Officer worked out an undisclosed income of the assessee on this account at Rs. 1,50,000. Aggrieved, the assessee preferred appeal to the Commissioner of Income-tax (Appeals). The Commissioner, taking into consideration the statement of a partner of the assessee, namely, Shri Raj Kumar, wherein he had stated that receipts from catering business were not fully recorded in the books of account, as well as three diaries, seized during the course of search, containing part of the details of the bookings made by the assessee in respect of the catering business on various dates, held that it would be just and fair to peg the addition at Rs. 50,000 instead of Rs. 1,50,000 made by the Assessing Officer. Not being satisfied, the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dent of search is the foundation for applicability of Chapter XIV-B of the Act. In the instant case, as noticed by the Commissioner, income from catering business was estimated by the Assessing Officer, on the basis of the statement of the partner, recorded during the course of search, and the diaries seized in these proceedings. The Tribunal has also observed that in his statement, partner-Raj Kumar admitted that income from catering business was not fully recorded in the books of account. This finding was never under challenge. In view of the factual scenario, as emerging from concurrent findings of fact recorded by the two appellate authorities below, it cannot be said that determination of the undisclosed income from catering business ..... X X X X Extracts X X X X X X X X Extracts X X X X
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