2005 (5) TMI 41

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....ated April 19, 2002, the Income-tax Appellate Tribunal held as under: "After hearing both the parties, we find that the issue is squarely covered in favour of the assessee by the decision of the Tribunal in the case of Vidya Madan Lal Malani wherein it has been held that if the income returned by the assessee is from disclosed sources then no addition can be made on account of undisclosed incom....

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....the case relied upon by learned counsel for the assessee, it is held that the sum of Rs. 23,05,357 pertaining to the assessment year 1995-96 could not be assessed as undisclosed income. Accordingly, this addition is hereby deleted. In the result, the appeal of the assessee is partly allowed." These findings are challenged by the Revenue in the present appeal under section 260A of the Income-tax....

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....ndisclosed income of Rs. 26,92,532. The order of the Assessing Officer was challenged by the assessee The Income-tax Appellate Tribunal while dealing with the questions raised, the addition for the block period was reduced to Rs. 2,75,227 in regard to the assessment year 1995-96. It was noticed in the impugned order that addition of Rs. 23,05,357 was without any basis and there is no discussion in....

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....3,05,360 was duly reflected in the accounts. From the above facts appearing on record before us, it is clear that the finding of the Tribunal does not call for any interference by this court in exercise of jurisdiction under section 260A of the Act. The provisions of section 158B of the Act would not be attracted in the present case inasmuch as nothing has been recorded in the order of assessme....