TMI Blog2007 (12) TMI 219X X X X Extracts X X X X X X X X Extracts X X X X ..... below the taxable limit during any particular assessment year then the income of that assessment year shall not be taken to be a part of the undisclosed income for the purpose of block assessment - , on the face of the language of section 158BB and rather all provisions contained in Chapter XIV-B, we are satisfied that even from the standpoint of burden of proof the learned Tribunal has rightly appreciated the evidence of the assessee - 90 of 2002 - - - Dated:- 17-12-2007 - N. P. GUPTA and MUNISHWAR NATH BHANDARI JJ. Anjay Kothari for the appellant. K.K. Bissa for the respondent. JUDGMENT This is an assessee's appeal seeking to challenge the order of the learned Tribunal dated May 11, 2002 (annexure 2), partly allowing the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed by the Finance Act, 2002, with effect from July 1, 1995. 3. So far as questions Nos. 1 and 4 are concerned as an abstract legal proposition they are required to be answered in favour of the assessee and against the Revenue to the effect that for the purpose of block assessment under section 158BC computation of undisclosed income cannot include income of any previous year which was below the taxable limit but for which return was not filed under section 139 for the period relating to the date after July 1, 1995. 4. This question has already been decided by this court in I. T. Appeal No. 91 of 2002 - CIT v. Manohar Lal Soni [2008] 214 CTR 395; [2009] 316 ITR 365 wherein the provisions of section 158BB(1)(c), as inserted by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t aside. 7. Then remain questions Nos. 2 and 3. of course, as abstract legal proposition, may be that the income from undisclosed sources represented through the assets acquired by the parents of the assessee cannot be the subject-matter of block assessment in the hands of the assessee when the search was conducted only against the assessee; but then, we have taken through the entire judgment of the learned Tribunal so also the assessing authority and what we find is that the learned Tribunal has gone into the matter threadbare with respect to each item of the asset and after considering the material found as a result of all search and other material and information as were available with the Assessing Officer also appreciated the stand ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rass findings of fact arrived at by the learned Tribunal with respect to each of the items of assets as have been arrived at by the learned Tribunal disbelieving the assets to have been acquired by the parents or through the assets of the parents can hardly be said to give rise to any substantial question of law under section 260A of the Act so as to require interference by this court. 11. So far as the question of burden of proof is concerned, in our view, on the face of the language of section 158BB and rather all provisions contained in Chapter XIV-B, we are satisfied that even from the standpoint of burden of proof the learned Tribunal has rightly appreciated the evidence of the assessee. 12. Consequently, questions Nos. 2 and 3 ..... X X X X Extracts X X X X X X X X Extracts X X X X
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