2008 (7) TMI 1009

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....UPTA,J.) This appeal by the Revenue has been filed against the judgment of the Tribunal dated 5.1.2005, confirming the order of the learned Commissioner, who deleted the addition of Rs. 2,95,000/- made by the Assessing Officer for the cash credits. The appeal was admitted on 9.3.2006 by framing the following substantial question of law:- "1. Whether on the facts and in the circumstances o....

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....n filed. The learned Assessing Officer found that the credit of Rs. 1,00,000/- appears at page 29 on 18.6.90 of Annex.A-10, a small Bahi, and then proceeded to consider the fact, that no confirmation in that regard was produced, and thus, addition was made by taking resort to provisions of Section 68 of the Act. Then another entry of Rs. 3,87,000/- was considered, and it was found that out of t....

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....T Vs. Ajay Kumar Sharma reported in same volume at page 240, and held that entries found in the regular books of accounts can be considered under Chapter XIV-B in those cases, where assessee has not disclosed these entries to the department. It was also held that when the assessee has already declared certain amounts in the regular returns, that cannot be a matter of block assessment thereafter, b....

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.... period, according to sub-section (1) (a) & (b), from out of the aggregate of the total income of the previous years falling within the block period computed in accordance with the Act, on the basis of evidence found as a result of search, or requisition of books of account, or other documents, and such other materials, or information, as are available with the Assessing Officer, and relatable to ....