COMMISSIONER OF INCOME TAX Vs. SUNITA AGGARWAL

JUDGEMENT

(1.) IT appears that a search and seizure operation was conducted in respect of the premises of the assessee and some material was allegedly seized on the basis of which the AO came to the conclusion that the assessee had certain undisclosed income. The AO took the view that the assessee was unable to explain the source of the income and, therefore, the amount was added to her income as undisclosed income.

(2.) WHEN the matter came up before the Tribunal in appeal, the Tribunal recorded that the Panchnama reveals that what was seized was the regular books of account of the assessee. Other than that "there is no other material or document found in the course of search which warranted embarking upon an enquiry by the AO in a block assessment". In other words, it is quite clear that what was seized was only the regular books of account of the assessee, which were available before the AO at the time of making the regular assessment.

(3.) MATTER at some length and thereafter learned counsel for the Revenue took time to verify whether any material or document had been found in the course of search to warrant an inquiry by the AO in a block assessment. It appears that this was due to the finding of fact arrived at by the Tribunal that there was no other material other than the regular books of account that were seized.