2002 (2) TMI 51

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....h appeals are different but issues involved are identical. So, one single order will dispose of both appeals. These are appeals filed by the Revenue. In the appeals more than five questions are raised for consideration of this court. The first question sought to be raised in both these appeals is common which reads as under: "Whether, on the facts and in the circumstances of the case, the....

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....ndent in this behalf. The other questions sought to be raised by the Revenue need no consideration as the issues raised therein are based on transactions which, by no stretch of imagination can be said to be undisclosed transactions falling under section 158B of the Income-tax Act, since the transactions in question were disclosed in returns which were the subject-matter of regular assessment. ....