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2003 (1) TMI 68 - HC - Income Tax"Whether, on the facts and circumstances of the case, the findings arrived at by the Tribunal for cancelling the block assessment in question are perverse being contrary to the materials on record and have been arrived at on conjectures and surmises ?" In our opinion, keeping in view the facts of the present case, there is no occasion on our part to remand the case to the Tribunal because when once it is found that the investments detected during the search have not at all been recorded in the books of account, there hardly remains any other aspect to be determined by the Tribunal on merits of the assessment. Similarly, the leviability of interest under section 158BFA of the Act is merely consequential and confers no discretion on any authority to remit or reduce the same. For these reasons, nothing remains for the Tribunal to decide in the matter. - Accordingly, the order passed by the Tribunal is set aside.
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