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TMI Blog1992 (8) TMI 93X X X X Extracts X X X X X X X X Extracts X X X X ..... ssioner(A) erred in rejecting the assessee's claim for immunity under the Amnesty Scheme. The assessee's contention is that since the return was filed before the search, he was entitled to immunity from penalty under the relevant CBDT circular and so penalty proceedings could not be initiated. 3. So far as the asst. yr. 1980-81 is concerned, the assessment order does not show that any penalty pr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tiation there is nothing in the circular prohibiting it nor is there any right of appeal against it either in the Act or in the circular. 6. Regarding the scope of immunity against penalty granted by the circular, the assessee's plea is that the returns were filed before the raid. Although the circular does say that immunity cannot be granted, where a raid has taken place, reasonable meaning wou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in answer to question No. 30. They are : "Q. 30 Whether an assessee could make a declaration in respect of assets or income which is not the subject-matter of seizure? Ans. : Yes, if it has not been already found out in the course of the search." Thus, it is clear that what is important is not the search but what has been found in the search. The essence of the matter is that immunity can b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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