2001 (7) TMI 93

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....livered by JAWAHARLALGUPTA J.-The assessee has filed the appeal under section 260A of the Income-tax Act, 1961. A few facts may be noticed. The assessee's premises were raided on September 26, 1995. The assessee filed his return of income for the block period starting from the assessment year 1986-87 to the date of the raid. The Assessing Officer found that there was an undisclosed income of....

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.... Devi the Tribunal has erred in upholding the addition of 20 gins. He further submits that the Tribunal has wrongly upheld the addition of the price of 13 kgs. of silver. Lastly, it has been contended that the Tribunal has not correctly assessed the income from agriculture. After hearing learned counsel, we find that the entire evidence has been considered by the Tribunal. It has been found tha....

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..... Similarly, in the case of Sulochana Devi it was found that she had 45 gms. of jewellery on her person. This statement was accepted. However, no explanation with regard to 20 gms. was given. Thus, the addition made by the Assessing Officer was upheld. As for silver, it is the admitted position that it was recovered from the appellant's custody. Resultantly, an addition on that account was made. N....