2003 (5) TMI 32

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....directed against an order dated March 28, 2001, of the Income-tax Appellate Tribunal, Delhi Bench (for short, "the Tribunal"), wherein certain additions made in the block assessment of the assessee have been upheld. According to the appellant, the following substantial questions of law are involved for adjudication by this court: (a) Whether, on the facts and circumstances of the case, the o....

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....P1, P2 and P3 are legally sustainable inasmuch as addition of Rs. 13,360 is covered by the undisclosed income of Rs. 15 lakhs surrendered by the assessee under section 132(4)? (e) Whether, on the facts and circumstances of the case, the order annexures P1, P2 and P3 are legally sustainable inasmuch as the deduction of Rs. 60,000 by way of salary paid to partners had not been allowed? (f) Whe....

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....consideration by this court. During the course of search under section 132 of the Income-tax Act, 1961, certain incriminating material had been recovered from the residential and business premises of the assessee and its partners and the assessment has been framed on the basis of such material. The assessee was also found to have purchased substantial quantity of sarson outside the books of accoun....