2006 (1) TMI 87

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....dian J.-The assessee is engaged in the business of chit fund and real estates. A search under section 132(1) of the Income-tax Act, 1961 (in short "the Act"), was conducted in respect of one A.P. Shanmugaraj and others on July 1, 1998. The documents seized during the course of such search indicated that the assessee had utilised undisclosed income for making contributions to certain unregistered c....

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....vey (?) could be taken into consideration and not the material collected during the survey under section 133A, which order was confirmed by the Tribunal. Hence, the appeal at the instance of the Revenue. The Revenue by filing the appeal before this court contended that the material gathered in the course of section 133A survey can also be regarded as a material for the purpose of block assessment ....

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....ate of the total income of the previous years falling within the block period computed in accordance with the provisions of this Act, on the basis of the 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 such evidence, as reduced by the aggregate of the tota....