2004 (1) TMI 55

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....) No. 204/Delhi of 2002 for block assessment period April 1, 1986, to April 19, 1996, the Revenue has preferred this appeal. The company was assessed for the block period and addition was made to the tune of Rs. 30,00,000. The Tribunal has examined the facts in detail. It was pointed out that the share capital stood recorded in the account books maintained by the assessee which were seized duri....

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....l stood disclosed to the Department as having been entered in the regular account books maintained by the assessee-company prior to the date of search on April 19, 1996, under section 132 against Sh. Alok Aggarwal as per details given by the Assessing Officer himself in paras. 4.1 to 4.5 of the block assessment order. That apart, it is pointed out by the Tribunal that all the shareholders had conf....

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.... that when documentary evidence was placed on record to prove the identity of all the shareholders including their PAN/GIR numbers and filing of other documentary evidence in the form of ration card, etc., which had neither been controverted nor disproved by the Assessing Officer, then no interference is called for. It may be noted that as pointed out by a Full Bench of this court in CIT v. Sophia....

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....sessing Officer to establish the identity of the persons with their PAN/GIR numbers and other details, it was for the Assessing Officer to enquire further if he felt that it was necessary. Instead of doing so, after issuance of summons when these materials were produced before him, he thought that he is helpless and he passed the burden on the assessee to bring the shareholders before him. The Tri....