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TMI Blog2010 (4) TMI 1165X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Managing Director who confessed the income liable to tax from function hall as well as catering services was not being accounted for cannot be relied on despite Section 132(4) of the Act as the same had been withdrawn subsequently under and affidavit. b) Whether the Tribunal was correct in holding that as the managing director of the assessee company was not examined and no other evidence can be relied on by the revenue in order to bring to tax the unaccounted income detected during search. c) Whether the Tribunal was correct in failing to take into consideration the pocket diary detected during search, number of loose sheets of papers which disclosed receipts for having received amounts for letting out the function hall and commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or fresh reconsideration. Subsequent to the remand, the Assessing Officer examined the material on record as well as the contentions raised by the assessee and found that from the material on record as well as the oral evidences there was an activity of hotel business carried out by the assessee and that charges were collected for letting out the function has as well as commission were received for catering business and the same were not accounted by the assessee. The Assessing officer held the same to be supressed income and completed and assessment for the block period by his order dt. 31.3.2003. 3. being aggrieved by the said order, the matter was carried before the Commissioner of Appeals who confirmed the assessment order with regard ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Assessing Officers was justified in issuing the said notice on the said date and that the order passed by the Tribunal will have to be set aside based on the substantial questions of law raised in this appeal. 7. Having heard the counsel on both sides and on perusal of the material on record, it is not in dispute that in the instant case, notice was issued under sec.143(2) pursuant to a search conducted on 6.7.1998 in the premises of the respondent-assessee and it was with regard to the block period of 1988-89 to 1998-99 and the said notice though originally issued under sec 148 BC of the Act and the assessment order was completed and the same became a subject of remand. We find that subsequently the notice issued on 9.8.2002 is beyond ..... X X X X Extracts X X X X X X X X Extracts X X X X
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