2002 (2) TMI 51

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..... e of both appeals. These are appeals filed by the Revenue. In the appeals more than five questions are raised for consideration of this court. The first question sought to be raised in both these appeals is common which reads as under: "Whether, on the facts and in the circumstances of the case, the Income-tax Appellate Tribunal was justified in directing the Assessing Officer to add to the .....

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..... ation as the issues raised therein are based on transactions which, by no stretch of imagination can be said to be undisclosed transactions falling under section 158B of the Income-tax Act, since the transactions in question were disclosed in returns which were the subject-matter of regular assessment. The same ought to have been assessed in the regular assessment and not in the block assessment. .....

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