2007 (4) TMI 176

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....venue has approached this court by filing the present appeal, raising the following substantial questions of law, arising out of the order dated February 3, 2006, passed by the Income-tax Appellate Tribunal, Delhi Bench "C", New Delhi (for short, "the Tribunal"), in I.T.A. (SS) No. 7(Delhi)/2001, for the block period 1988-89 to 1998-99 "1. Whether, on the facts and in the circumstances of the c....

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....seizure operation was carried out at the business and residential premises of the assessee. During the course of search, certain incriminating documents were found and seized. While framing the assessment for the block period, certain additions were made on various accounts, which were either set aside by the Commissioner of Income-tax (Appeals) (for short, "the CIT(A)") or by the Tribunal. 3 I....

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....assessees for a long time even prior to the block period. Accordingly, the position reflected and the income shown by both the assessees cannot be brushed aside. The position sought to be explained by the assessee by filing the returns for the block period cannot be said to be "make belief statement of affairs". The assessee had also provided information and also furnished affidavits of the person....