ALOK AGGARWAL Vs. JOINT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THIS is an appeal directed against the order passed by the Joint Commissioner, Special Range -13, New Delhi, under section 158BC read with section 254 of the Income Tax Act, 1961 (hereinafter referred to as "Act"), for the block period 1 -4 -1986 to 19 -4 -1996. The original block assessment in consequence of a search action taken under section 132 of the Act on 19 -4 -1996, against the appellant at his business and residential premises was passed by the Deputy Commissioner, Special Range -13, New Delhi, under section 158BC at a total undisclosed income of Rs. 25,50,69,506 against nil undisclosed income returned by the appellant under section 158BC. In an appeal filed by the appellant against the original block assessment (ITA No. 124/Del/1997), the "E" Bench set aside the original block assessment order in toto with observations and directions as under :

(2.) KEEPING in view the directions, the assessing officer proceeded to reframe the fresh block assessment and in the said fresh order which is impugned in this appeal, the assessing officer redetermined the total undisclosed income of the appellant at Rs. 3,23,36,688 consisting of Rs. 2,32,34,870 assessed as undisclosed income of the appellant on protective basis and Rs. 91,01,818 on substantive basis. The appellant has Challenged both the protective and substantive addition by raising the following grounds :

(3.) SHRI O.P. Sapra, advocate, assisted by Shri J.K. Khanna, advocate and Shri Ashutosh Aggarwal, CA, argued the appeal by placing reliance on the paper book and also other paper compilations besides Synopsis -II (Synopsis -I had been filed during the hearing of the stay petition) copies of which were also given to the learned senior Departmental Representative who also advanced her arguments at great length, against which the learned counsel of the appellant filed written rejoinder.