AQUA GRANITES Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE following are the substantial questions of law raised by the assessee for the block assessment years 1986-87 to 1996-97:

(2.) THE assessee herein is a partnership firm carrying on business in granite debris. Consequent on the search of the premises of A.N.Dyaneswaran on 19.01.1996, the business premises of the assessee as well as the residential premises of the partner Mrs.Kumari Kanagam were also searched. The assessee filed its return on 15.09.1997, disclosing nil undisclosed income. Admittedly, the assessee was served with a notice under Section 143(2) on 27.03.1998, posting the case for finalising the assessment on 30.03.1998.

(3.) THE assessment order pointed out that the copy of documents seized from the assessee at the time of search and relied on for the purpose of assessment were provided earlier and they were also again provided before the assessment. Thus, the assessment for the block period, for which notice was issued on 27.03.1998, was finalised on 31.03.1998.