COMMISSIONER OF INCOME VI Vs. N CHANDRASEKHAR

JUDGEMENT

(1.) The revenue has filed the above Tax Case Appeal against the order of the Income Tax Appellate Tribunal, Madras 'B' Bench dated 24.02.2004 in ITA.No.1932/Mds/1996.

(2.) When the appeal was came up for admission on 16.09.2004, this Court admitted the same on the following substantial questions of law:

(3.) The assessee's premises was searched by the revenue under Section 132 of the Income Tax Act on 02.08.1995. The block assessment for the period is 1985-1986 to 1995-1996 and up to the date of search. In response to the notice under Section 158B of the Act, the assessee has filed a return in Form No.2-B where he has made a disclosure of Rs.1,00,000/- and notice under Section 143(2) of the Act was issued on the assessee. The assessing officer completed the block assessment under Sections 158BC read with 143(3) of the Act and determined the undisclosed income at Rs.13,06,690/- and made number of additions. Aggrieved by that order, the assessee has filed an appeal before the Income Tax Appellate Tribunal. The Tribunal allowed the appeal. As against the same, the assessee filed the present appeal.