TMI Blog2006 (1) TMI 87X X X X Extracts X X X X X X X X Extracts X X X X ..... survey can also be regarded as a material for the purpose of block assessment under section 158BB. - A mere reading of section 158BB clearly indicates that the sentence "such other materials or information as are available with the Assessing Officer" cannot be bisected or taken in isolation for the purpose of computation. Such other materials or information as are available with the Assessing Offi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nd others on July 1, 1998. The documents seized during the course of such search indicated that the assessee had utilised undisclosed income for making contributions to certain unregistered chits conducted by the said A.P. Shanmugaraj. On July 14, 1998 a survey was conducted in the business premises of the assessee which indicated certain real estate transactions carried on by the assessee and pro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... evenue by filing the appeal before this court contended that the material gathered in the course of section 133A survey can also be regarded as a material for the purpose of block assessment under section 158BB. Counsel for the Revenue submitted that the language contained in section that "such other materials or information as are available with the Assessing Officer" would encompass with it th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oks of account or other documents and such other materials or information as are available with the Assessing Officer and relatable to such evidence, as reduced by the aggregate of the total income, or as the case may be, as increased by the aggregate of the losses of such previous years. A mere reading of the above provision clearly indicates that the sentence "such other materials or informati ..... X X X X Extracts X X X X X X X X Extracts X X X X
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