2006 (8) TMI 149

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....ning to Smt. Maya Chotrani were seized. Action under section 158BC of the Income-tax Act, 1961 (for short "the Act") was initiated in her case. It is also not disputed that Smt. Maya Chotrani is a NRI resident of Dubai. No search was conducted at her premises. 2. Assessment under section 158BD, read with section 143(3) of the Act for the block period 1987-88 to 1997-98 was completed on November 30, 1998, determining total undisclosed income for the block period at Rs. 5,06,380/-. An order (annexure A) was passed by the Office of the Assistant Commissioner of Income-tax (Investigation), Circle-I, Bhopal. The assessee preferred an appeal before the Income-tax Appellate Tribunal, Indore Bench. The learned Tribunal as per order (annexure B),....

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....acts and in the circumstances of the case, and in view of the provisions of section 158BB(1) and 158BB(1)(c) of the Income-tax Act, the hon'ble Tribunal was justified in law in holding that if the total income in those assessment years, in which the return was not filed before the search was conducted is below the taxable limit after claiming the deduction under section 80L of the Act, the income of that year shall not be considered as part of the undisclosed income and whether such decision of the Income-tax Appellate Tribunal is not contrary to the scheme of the Income-tax Act? (iii) Whether, on the facts and in the circumstances of the case, the Tribunal was justified in law in holding that if the total income in those asses....

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....count or other documents or any assets were requisitioned under section 132A, then, the books of account, other documents or assets seized or requisitioned shall be handed over to the Assessing Officer having jurisdiction over such other person and that Assessing Officer shall proceed against such other person and the provisions of this Chapter shall apply accordingly. 5. The respondent-assessee was other person as contemplated under section 158BD of the Act. She was clearly a person other than the person with respect to whom search was made under section 132 of the Act which is not disputed on the facts. Thus, as per the aforesaid section 158BD, the relevant material ought to have been handed over to the Assessing Officer having jurisdi....