2007 (10) TMI 638

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... The Revenue is aggrieved by an order dated 2nd November, 2004 passed by the Income Tax Appellate Tribunal, Delhi Bench `G', New Delhi (Tribunal) in IT(SS) Appeal Nos. 22/Del of 2001, 23/Del of 2001 and 24/Del of 2001 all relevant to the block period 1st April, 1988 to 12th May, 1998. A search under Section 132 of the Income Tax Act, 1961 (`Act') was conducted in respect of the bank ac....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... the entire sale proceeds. It was accordingly held that in view of the provisions of Sections 158BA(3) and 158B(b) of the Act, these receipts on account of sale proceeds could not be treated as undisclosed income in the hands of the Assessee. We also find from the perusal of Section 158B(b) and Section158 BA   (3) of the Act that such income would be treated as undisclosed income if, bu....