2007 (12) TMI 270

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....y 1. K. RAVIRAJA PANDIAN J. - This appeal is filed against the order dated December 27, 2006, passed in M. P. No. 174/Mds/2005 in IT(SS) No. 24/ Mds/98. The relevant block period ended on October 10, 1996. 2. The assessee was doing finance business. In the assessee's business premises, there was search and seizure operation under section 132 of the Income-tax Act, 1961, which commenced on Oc....

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....the Voluntary Disclosure of Income Scheme, 1997, was filed. The Assessing Officer treated the undisclosed income as per the provisions of section 158BC and computed the income. 4. Against that order, the assessee preferred an appeal before the Income-tax Appellate Tribunal, who held that there was no merit in the appeal filed by the assessee and dismissed the same as infructuous, in view of the....

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....s and in the circumstances of the case, the Income-tax Appellate Tribunal was right in law in allowing the miscellaneous petition filed by the assessee, even though the voluntary disclosure scheme application was filed by the assessee after the date of search is valid?" 6. We heard the argument of learned counsel appearing for the appellant and perused the material on record. 7. It is appare....