TMI Blog2007 (5) TMI 176X X X X Extracts X X X X X X X X Extracts X X X X ..... d 1990-91 to 18th January, 2000 whereby the Tribunal deleted the addition of Rs.48 lakhs made by the Assessing Officer on account of undisclosed income on the basis of seized material. 2. Premises of M/s I.G. Builders and Promoters Pvt. Ltd. in which the assessee is a Director and of the assessee were searched on 18th January, 2000 and a document marked as Annexure A-37 was found and seized. The said document contained the following entries:- 3. Annexure A-37 (Page 13) "Cash RB- Ch.31.50 9.50 41.00 16.50 57.50 31.50 16.50_ 48.00" 4. As per the Ass ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to be proved strictly that undisclosed income assessed in the hands of the assessee is undisclosed income beyond a reasonable doubt. As noted earlier in the first page, total of all the five figures is 57.50 but addition of Rs.48 lacs was made and not of Rs.57.50 lacs. Why figures mentioned at second place after some gap was not taken into consideration. How 48 have been made as Rs.48 lacs and that too undisclosed income of the assessee is absolutely not clear from the assessment order. It was stated that Rs.9.50 lacs is recorded to be received through Cheque and therefore above amount was not added. It is correct that before 9.50 the word, "Ch" is written but there was nothing on record to show this amount was any way different from other ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urposes of the Act." 10. It is clear from the above definition that the income or the property, which has been disclosed or would have been disclosed for the purpose of this Act, does not form part of the undisclosed income for purpose of block assessment. Under the provisions of Chapter XIV-B only such of the aforesaid categories of income, which has been found as a result of search can alone be the subject matter of an assessment under this Chapter. The definition specifies that where an assessee has claimed any expenses or addition, which is found to be false, the same can only be regarded as an undisclosed income for the purpose of this Chapter. 11. Under Chapter XIV B of the Act, before an addition of an "undisclosed income" ca ..... X X X X Extracts X X X X X X X X Extracts X X X X
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