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2017 (9) TMI 480 - HC - Income TaxBlock assessment - Reliance upon the self incriminating statement during the Search u/s 132 - Held that:- The Tribunal by the impugned order dated 28th November, 2003, on bare reading of Section 132(4) of the Act, dismissed the Revenue's appeal by upholding that the statement/letter dated 15th January, 1998 was not made during the course of search but much after the search was completed on 4th December, 1997. Consequently, it held that the letter dated 15th January, 1998 would not have evidentiary value of a statement under Section 132(4) of the Act. Thus, dismissed the Revenue's appeal. - Order of tribunal sustained - Decided against the revenue. Block assessment - earlier assessee filed a declaration under the Voluntary Disclosure of Income Scheme, 1997 (VDIS-1997) declaring an undisclosed income ₹ 1.20 crores- Assessee did not deposit tax required to be deposited before the 31st March, 1998, resulting in the rejection of declaration under the VDIS-1997 - filed return of income under Chapter XIV-B of the Act declaring undisclosed income for the Block Period at ₹ 55 lakhs - AO rejected books of accounts and on the basis of the declaration made under the VDIS 1997 sought to tax the Assessee - Held That:- Tribunal has reighly dismissed the Revenue's appeal inter-alia holding that under the provisions of Chapter XIV(B) of the Act, the undisclosed income for the Block Period has to be completed on the basis of material found in the course of the search. This declaration made by the respondent - Assessee under the VDIS scheme is not material discovered during the course of search as it was made after the search. Therefore, the same can not form the basis of assessment under Chapter XIV(B) of the Act. - Decision of this Court in CIT v. Vinod Danchand Ghodawat [2000 (6) TMI 13 - BOMBAY High Court] followed. - Decided against the revenue.
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