R.BHOOPATHY Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Assessee has filed this Appeal, raising the following Substantial Question of Law, arising from the order of the learned Income Tax Appellate Tribunal, in short, 'Tribunal', dated 19.01.2007, whereby the learned Tribunal dismissed the appeal of the Assessee and upheld the Addition of Rs.5,60,000/- made in the hands of the Assessee as Undisclosed Income of the Assessee. The Substantial Questions of Law is quoted below for ready reference :

(2.) The facts, in brief, are as under :

(3.) The Assessing Authority made additions of the said sum of Rs.5,60,000/- in the hands of the Assessee in the Assessment proceedings conducted under Section 158BC of the Act vide Assessment Order, dated 30.05.2003. The Preamble of the said Assessment Order would also reveal that the Assessee, after the Search, filed a Return of Income on 18.02.2003 for the Block Assessment Period and disclosed and declared Undisclosed Income to the extent of Rs.23,65,700/-, which was accordingly assessed and tax was paid thereon by the Assessee. Since the aforesaid separate addition was made in the hands of the Assessee at Rs.5,60,000/-, he filed an appeal before CIT (A), which came to be dismissed by CIT(A) and thereafter second appeal dismissed by the Tribunal.