TMI Blog2005 (5) TMI 33X X X X Extracts X X X X X X X X Extracts X X X X ..... he material seized, that should be treated as undisclosed income as per the scheme of special assessment under Chapter XIV-B - The admitted position in the present case is that no incriminating material was found in the course of search and, therefore, the Assessing Officer could not take resort to the provisions of Chapter XIV-B of the Act to tax what was said to be the undisclosed or concealed i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... shed necessary documents in support of the gifts received by him. It appears that a search and seizure operation was carried out under section 132 of the Act some time in February, 1997 in the premises of the assessee's father. No incriminating material in so far as the assessee is concerned was discovered during the search. However, the Assessing Officer resorted to section 158BC of the Act and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssing Officer could reopen the assessment under section 147 of the Act, but could not add the income under section 158BC thereof. Feeling aggrieved, the Revenue preferred an appeal before the Tribunal which upheld the view taken by the Commissioner of Income-tax (Appeals). The Tribunal held that there was nothing in the assessment order to show that any evidence was found during the search to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r XIV-B. The admitted position in the present case is that no incriminating material was found in the course of search and, therefore, the Assessing Officer could not take resort to the provisions of Chapter XIV-B of the Act to tax what was said to be the undisclosed or concealed income of the assessee. We are of the view that no substantial question of law arises in this case. Dismissed. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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