TMI Blog2017 (12) TMI 310X X X X Extracts X X X X X X X X Extracts X X X X ..... y giving rise to a question of law, much less a substantial question of law, warranting interference. The appeal, therefore, fails and is accordingly, summarily dismissed. - Tax Appeal No. 917 of 2017 - - - Dated:- 23-11-2017 - MR. HARSHA DEVANI AND MR. A.S. SUPEHIA, JJ. For The Appellant : Mrs Mauna M Bhatt, Advocate ORAL ORDER ( PER : HONOURABLE MS.JUSTICE HARSHA DEVANI) 1. The appellant revenue in this appeal under section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act ) has called in question the order dated 6.6.2017 passed by the Income Tax Appellate Tribunal, Rajkot Bench, Rajkot (hereinafter referred to as the Tribunal ) in IT(SS)A No.21/ RJT/ 1988 for the block period 1987-88 to 24.12 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... regular manner and were incorrect and incomplete and, therefore, the case was covered by sub-section (2) of section 145 of the Act. Accordingly, he rejected the books of account. 3. To verify the cost of construction of the building Dhanranjni the Assessing Officer, referred the case to the Valuation Cell of the Department to work out the fair market value of the land and building. The Valuation Officer worked out the value of the land and building Dhanranjni as under: Cost/ value determined by DVO Cost/ value shown by the assessee Difference Land Rs.63,15,568/- Rs.61,00,000/- Rs.2,15,568/- ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time of search. Moreover, there was also no evidence found at the time of search which would suggest that the cost shown by the assessee in the books of account was lesser than the actual cost of construction incurred by the assessee and that the entire assessment was devoid of incriminating material. The Tribunal was of the opinion that Chapter XIV-B of the Act is a complete code in itself and if the assessment has to be made for undisclosed income, such undisclosed income should be out of the result of search. The Tribunal held that there was no undisclosed income to this extent which could be said to have been detected as a result of search and set aside the addition of ₹ 50,49,138/- made on account of cost of construction. 6. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Act is to provide for an assessment of undisclosed income detected as a result of the search without affecting the regular assessments made or to be made. The special provisions are devised to operate in a separate field of undisclosed income and are clearly in addition to the regular assessments covering the previous years falling in the block period. In Deputy Commissioner of Income Tax Vs. Radhe Developers India Limited and another , (2010) 329 ITR 1 (Guj), it was contended on behalf of the assessee that two additions of ₹ 99,00,000/- and ₹ 4,00,000/- were found to be based on the entries recorded in the regular books of account and were thus, outside the scope of special provisions for assessment of block period and h ..... X X X X Extracts X X X X X X X X Extracts X X X X
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