2018 (12) TMI 1081

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.... income being determined of Rs. 31,43,985/-. The assessee unsuccessfully filed first appeal, but succeeded in the appeal before the Income Tax Appellate Tribunal. The following questions of law arise from the order of the Tribunal, according to the Revenue: "(1) Whether, on the facts and in the circumstances of the case, since the assessee neither returned the income of Rs. 16,30,925/- in the return filed for assessment year 1996-97 nor the Revenue included the same in the regular assessment completed on 29.01.1999, the Tribunal is justified in deleting the addition of undisclosed income of Rs. 16,30,925/- from the block assessment? (2) Whether, on the facts and in the circumstances of the case and also in view of the fact that the ret....

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....evenue and uphold the deletion of the addition of undisclosed income of Rs. 16,30,925/- for the year 1996-97. 3. The second question relates to the addition of Rs. 51,210/- in the year 1993-94. In that year, the assessee had filed a belated return showing the income as Rs. 51,210/-. On receiving notice under Section 158BC, the assessee had filed a return for Rs. 50,000/-. The learned Senior Counsel, Government of India (Taxes) submits that the return filed belatedly is of no consequence and hence it has to be taken as undisclosed income. We agree with the said submission, but however, if the belated return is of no consequence, the undisclosed income has been returned by the assessee in a return filed on a notice issued after search. Hence....