COMMISSIONER OF INCOME TAX Vs. MANOJ JAIN

JUDGEMENT

(1.) THE Tribunal has recorded a clear finding of fact that the search on the premises of the assessee did not lead to the seizure of any incriminating evidence to suggest that any income had not been disclosed or would not have been disclosed for tax purpose under the IT Act, 1961. It has, on that finding, held that the AO was not justified in making additions on the basis of the report of the valuation officer in regard to two of the properties purchased by the assessee. The reasoning of the Tribunal's order proceeds thus :

(2.) THE above is in tune with the decision of this Court in CIT vs. Ravi Kant Jain (2001) 167 CTR (Del) 566 : (2001) 250 ITR 141 (Del) and CIT vs. Sudhish Kumar (2005) 195 CTR (Del) 77.

(3.) NO substantial question of law arises for our consideration. The appeal fails and is hereby dismissed.