2013 (3) TMI 71

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....question of law said to be arising out of the order of the Tribunal: - 1. Whether the Hon'ble ITAT was justified in law in dismissing the revenue appeal by ignoring the legal position that in order to be assessed in the status of AOP/BOI there should exist any evidence establishing the status of the assessee as AOP/BOI as no evidence has neither been found during the course of search nor submitted by the assessee? 2. Whether the Hon'ble ITAT was justified in law in dismissing the appeal of the department by ignoring the settled position of law as held by the various courts, including apex court, that in order to be an AOP there must be a violation on the part of members forming the AOP to produce profit from a common source of income.....

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.... appeal relates to the Assessment Year 2001-02. Pursuant to the warrant of authorization issued by the Director of Income Tax (Investigation), Kanpur u/s 132 of the Act, search and seizure operation was carried out on 11.6.2003 at the residential and other premises belonging to the respondent and his brothers, etc. which is known as M/s. Maiku Lal Salik Ram group of cases. On the same date, some business premises of the group were also surveyed u/s 133-A of the Act. Notice dated 3.1.2006 u/s 153-A of the Act was issued in the name of the respondent assessee, requiring him to furnish the return of income for each of the assessment years, commencing from 1998-99 to 2003-04 in respect of which he was assessable as an individual. In complian....