2007 (7) TMI 12

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....elhi in I. T. A. (SS) No. 321/D12002 relevant for the block assessment period April 1, 1986, to March 31, 1997. 2 It appears that a search and seizure operation was conducted in respect of the premises of the assessee and some material was allegedly seized on the basis of which the Assessing Officer came to the conclusion that the assessee had certain undisclosed income. The Assessing Officer t....

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.... the Division Bench heard the matter at some length and thereafter learned counsel for the Revenue took time to verify whether any material or document had been found in the course of search to warrant an inquiry by the Assessing Officer in a block assessment. It appears that this was due to the finding of fact arrived at by the Tribunal that there was no other material other than the regular book....