1999 (12) TMI 689

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....cted against the orders of Dy. CIT (Asstt.), Spl. Range, Jabalpur, passed under section 158BC of the Income-tax Act, 1961. Since in all these appeals, common issues are involved, they are being disposed of together for the sake of convenience. 2. In all these appeals, the assessee has challenged the finding of the Assessing Officer treating the cash credit as undisclosed income for the purpose of....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the present appeal before me. 4. At the time of hearing before me, the learned counsel for the assessees argued at length. He stated that under chapter XIV-B only undisclosed income detected as a result of search can be assessed. All the above credits were duly recorded in the books of account of the respective years and, moreover, the returns of income of the respective years by the above asses....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....pparent that the creditors were men of no means and, therefore, the Assessing Officer was fully justified in considering those credits as unexplained. He also stated that when it was found by the Assessing Officer that the credits were not genuine, he was fully justified in considering these credits as undisclosed income for the purpose of chapter XIV-B. 6. I have considered the arguments of both....