2014 (7) TMI 1124

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....he Appellant : Sri S.R. Ashok, Learned Sr. Standing Counsel for the Income Tax. JUDGEMENT L. Narasimha Reddy J.- The subject matter of this batch of appeals is the block assessments. The assessees were submitting the returns year after year. However, on the basis of searches conducted vis-a-vis the assessees block assessments, covering a decade preceding the date of the search, were made.....

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.... Tribunal"). Through a common order dated January 31, 2001, the Tribunal allowed the batch of appeals setting aside the assessment orders passed in respect of the block assessments. Hence, these batch of three appeals, by the Revenue. Heard Sri S. R. Ashok, learned standing counsel for the Income-tax Department. None appeared for the assessees. Whenever searches are undertaken by the concern....

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....by the assessees for the respective years. In Asst. CIT v. Hotel Blue Moon [2010] 321 ITR 362 (SC), the hon'ble Supreme Court categorically held that an occasion to undertake an exercise under section 158BB of the Act would arise only when the search resulted in recovery of any material information, which did not form part of the returns submitted by the assessee. In other words, if the bas....