TMI Blog2006 (9) TMI 99X X X X Extracts X X X X X X X X Extracts X X X X ..... 005 - - - Dated:- 6-9-2006 - MADAN B. LOKUR and VIPIN SANGHI JUDGMENT 1. The Revenue is aggrieved by an order dated 31st August, 2004 passed by the Income Tax Appellate Tribunal, Delhi Bench "B" in ITA No.5600(Del)/1996 relevant for the block period assessment year 1986-87 to 15th September, 1995. 2. A search was carried out in the business and residential premises of the Aggarwal ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... basis of evidence found as a result of search or requisition of books of accounts or documents and such other material or information as are available with the Assessing Officer and that in this case no such material or information was found during the search to show that the credits appearing in the books of accounts were not genuine. We have been shown the definition of undisclosed income under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n disclosed by the assessee. In so far as the present case is concerned, the admitted position is that the amounts were disclosed by the Assessee in its books of account. In addition, the Tribunal has noted that regular returns have also been filed by the Assessee in respect of the relevant assessment years and we are told by learned counsel for the Respondent that regular assessments have been co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ounts were received by cheques as advance for purchase of land. Complete addresses of the parties were given and if the Assessing Officer had some doubt, he could have summoned these parties under Section 131 of the Act but he did not do so. 9. It was stated by learned counsel for the assessee that the Assessing Officer had failed to appreciate that in some of the cases agreement to sell and s ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
