2010 (11) TMI 597

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....he case, the Tribunal is right in law in not considering the judgments of the Kerala High Court in the case of CIT v. Deep Arts [2005] 194 CTR (Ker.) 181 : [2005] 144 Taxman 565 and that of the CIT v. Indore Constructions (P.) Ltd. [2005] 195 CTR (MP) 217/[2005] 279 ITR 545 (MP), which had clearly held that even if no search is conducted in the premises of the assessee, the Assessing Officer has jurisdiction to make assessment on the material unearthed in a search conducted on another premises ?    3.  Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the statement recorded from the assessee during the search and the evidence gathered during the post-search enquires did not c....

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....turn in Form No. 2B showing 'nil' income on the same day namely, 19-11-1998. The assessee filed his cash flow statement on 23-11-1998. Thereafter, the appellant issued a detailed letter along with a notice under section 142(1) of the Act, on 24-11-1998 indicating the additions proposed to be made. On behalf of the assessee, the objections were filed on 25-11-1998. 5. It is in the above stated background, the block assessment for the block period 1986-87 to 1996-97 was completed, wherein the income was determined in a sum of Rs. 8,20,327 and the tax in a sum of Rs. 4,92,196 at the rate 60 per cent came to be determined. 6. When the issue was taken up on appeal at the instance of the respondent/assessee before the Tribunal, the Tribunal....