MAHADEV PRASAD AGARWAL Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) THE appeal was admitted in terms of the following question :

(2.) ON 3rd Feb., 1993, a search and seizure operation was carried out at the premises of the assessee-appellant under s. 132(1) of the IT Act, 1961 (hereinafter referred to as `the Act of 1961'). During the course of search, some books, documents, cash and jewellery were found and seized. The relevant assessment year is 1993-94. ON 30th March, 1994, the assessee has shown income of Rs. 51,954.

(3.) CONSIDERING his submissions and perusal of the orders of the authorities below, no authority, including the Tribunal has discussed this aspect, whether the jewellery in question, i.e., 15 Tolas gold jewellery has been shown in wealth-tax return. There is nothing on record to show that, that part of the jewellery has been disclosed in the wealth-tax return.