2003 (8) TMI 7

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....d in the circumstances of the case and considering that a search was conducted on the premises of the assessee under section 132 of the Income-tax Act, is the Income-tax Appellate Tribunal right in law in holding that the assessee is entitled for the benefits under the amnesty circular?" The assessee filed the return of income for the assessment year 1985-86 claiming the benefits of amnesty circu....

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....ced for the benefit of the taxpayers as well as for the benefit of the Revenue and that the scheme cannot be construed in a narrower fashion as to deprive the assessee of its benefit, simply because he was subjected to search, notwithstanding that there was no detection of any concealment. In this view of the matter our opinion on the question of law, in the abstract, must be in favour of the asse....