9911796707
TMI Blog1999 (12) TMI 689X X X X Extracts X X X X X X X X Extracts X X X X ..... ected against the orders of Dy. CIT (Asstt.), Spl. Range, Jabalpur, passed under section 158BC of the Income-tax Act, 1961. Since in all these appeals, common issues are involved, they are being disposed of together for the sake of convenience. 2. In all these appeals, the assessee has challenged the finding of the Assessing Officer treating the cash credit as undisclosed income for the purpose o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the present appeal before me. 4. At the time of hearing before me, the learned counsel for the assessees argued at length. He stated that under chapter XIV-B only undisclosed income detected as a result of search can be assessed. All the above credits were duly recorded in the books of account of the respective years and, moreover, the returns of income of the respective years by the above asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... apparent that the creditors were men of no means and, therefore, the Assessing Officer was fully justified in considering those credits as unexplained. He also stated that when it was found by the Assessing Officer that the credits were not genuine, he was fully justified in considering these credits as undisclosed income for the purpose of chapter XIV-B. 6. I have considered the arguments of bot ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the regular books of account are non-genuine. Therefore, in my opinion, the credits under consideration cannot be said to be undisclosed income detected as a result of search. Hence the same is out of the purview of the assessment under chapter XIV-B. Accordingly, I delete the additions of Rs. 24,000 in the case of Sudhir Kumar Potdar, Rs. 69,200 in the case of Shailendra Kumar Agrawal and Rs. 42 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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