2008 (1) TMI 977

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....007 for the block period 1-4-1995 to 5-12-2001 humbly prefers this appeal as under: Facts In Brief 2. The brief facts of the case are that the search action under Section 132 of the Act was conducted in this case on 5-12-2001. The assessee was doing the business of sales and purchases of wheat, gram, soya, etc. During the assessment proceedings, it was noted that there were cash entries in the n....

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....) erred in deleting the addition of ₹ 13,37,237 made by the Assessing Officer for peak credit of farmer's account holding that such addition is totally outside the scope of the block assessment proceedings. From paragraph 3 the order passed by the learned Income Tax Appellate Tribunal, it would again appear that the above referred was the only question raised before the Tribunal. 5. Shr....

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....onducted on 3-12-2001 and notice under Section 158BC was issued by the Assessing Officer on 9-12-2002. In compliance to that, return was furnished on 10-1-2003. First assessment proceeding was initiated on 6-8-2003, when the case was to become barred by limitation on 31-12-2003. The Tribunal also observed that there is no delay on the part of the assessee. The Tribunal also took note on the fact t....