2012 (12) TMI 214

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....h May, 2003 at his residential premises at C-8, Anand Niketan, New Delhi. On the basis of the evidence gathered during the search, a notice was issued under Section 158BC of the Act calling upon the petitioner to file a return of the undisclosed income. The petitioner filed a return showing undisclosed income of Rs. Nil. In the course of the assessment proceedings the Assessing Officer examined the seized material in the light of the return filed by the petitioner and eventually passed an assessment order for the block period 1.4.1997 to 13.5.2003 on 31.5.2005 under Section 158BC, determining the total undisclosed income at Rs.7,27,400/- and raised a demand of tax accordingly. 4. An appeal was preferred by the petitioner to the CIT(Appea....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....sit receipts for which no relief was given by the Tribunal, the addition was confirmed only on account of a difference between the numbers in the fixed deposit receipts as inventorised in the panchnama and the numbers appearing in the supporting documents. It was pointed out that in fact there was no difference or discrepancy between the numbers noted in the panchnama and the numbers noted in the supporting documents and it was explained that the number noted in the panchnama is the printed serial number of stationery/machine number of the FDR, whereas the number mentioned in the supporting documents placed in the paper book filed before the Tribunal was the fixed deposit number assigned by the bank to the fixed deposit receipt. In support ....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....re being submitted by the assessee along with Misc. Application filed by the assessee under sec. 254(2) of the Act. The impugned Tribunal order is dated 30.11.2010 but the hearing was concluded by the Tribunal on 15.11.2010 whereas the certificated of Canara Bank is dated 24.11.2010 i.e. after the conclusion of hearing and hence, on the basis of this certificate from Bank, it cannot be accepted that there is any apparent mistake in the impugned order of Tribunal Regarding the second FD of Punjab National Bank, the assessee has submitted before us during Misc. Application proceedings, a photocopy of the FD in question of Rs. 75,000/-. Even this was not submitted by the assessee in the course of hearing of appeal before us. It is admitted pos....