2000 (2) TMI 37

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...., Nagpur, by which it has been held that invocation of Chapter XIV-B of the Income-tax Act, 1961, was erroneous inasmuch as no material came to be detected during the search operations. The facts giving rise to this appeal, briefly, are as follows. A search was conducted at the residential premises of the assessee on March 25, 1996. A notice under section 158BC was issued to the assessee requir....

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....96. The representative of the assessee also pointed out to the Tribunal that the returns of the firm for the three years were filed on October 31, 1993, October 31, 1994 and March 31, 1995, respectively. The Tribunal further found, on facts, that the return of undisclosed income filed before the Assessing Officer under Chapter XIV-B also indicated that income had been disclosed by the firm to the ....