P.P. UMMERKUTTY Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE connected appeals arise from a common order of the Tribunal disposing of the appeal and cross -objection filed by the assessee and the Department against the orders of the Tribunal, Cochin Bench.

(2.) THE date of search. The assessee was not available on the date of search and consequently, his sworn statement was statement and the evidence furnished by the assessee, completed the assessment making substantial addition for the entire period. The assessment completed under s. 158BC of the IT Act, 1961 was subjected to appeal before the CIT(A). Based on the evidence produced and after hearing the assessee, the appeal was allowed in part, against which the Department filed appeal and assessee filed cross -objection to delete addition sustained by the CIT(A).

(3.) THE Tribunal, in the impugned common order, partly sustained the addition and partly, reversed the order of the CIT (A). Against the order of the Tribunal, these appeals are filed by the assessee as well as the Revenue.