KARUN DUBE Vs. ASSISTANT COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE present appeal has been filed under s. 260A of the IT Act, 1961 (for short as 'Act') by the assessee challenging the Thereafter, notice under s. 158BC of the Act was issued to the assessee and the assessee filed the return for the block assessment order.

(2.) During the course of assessment proceedings, the AO brought to the notice of the assessee that the undisclosed income of the family members of the group concerns had wrongly been disclosed by the assessee in the return of Rs. 20,55,000.

(3.) The AO assessed the original undisclosed income as per return to the extent of Rs. 47,93,000. A sum of Rs. 69 lacs was assessed on the basis of slip No. 5 Annex. A -13 of the seized documents and an addition of Rs. 2,000 was made on account of interest of loan.