2011 (5) TMI 369

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....rd to the nature of order we propose to pass, that too with consent of both the parties, it is not necessary to spell out the contour of controversy in detail. Our purpose would be served by taking note of the background facts in brief touching upon the issue involved.   2. On the basis of certain documents retrieved from the premises of the Fena Ltd. whose premises was searched, the assesse....

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.... calculated @ Rs. 43,23,457 ( Rs.61,66,599 minus Rs. 18,43,142/-) and the same was added as undisclosed income. In the appeal, the submission of the assessee was that it had received the aforesaid on account of telecast charges from SACI Allied Products Ltd. According to the assessee the total cheques deposited in the bank were Rs. 69,61,599/-out of which cheques worth Rs.16,35,000/- were returned....