2019 (9) TMI 483

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...., VP : This appeal by the assessee is directed against the order passed by the CIT(A)-1, Nashik on 24-02-2010 in relation to the Block Period 1988-89 to 1998-99. 2. The first ground is against the confirmation of addition of Rs. 11,96,600/- which was made towards undisclosed income of the assessee on the basis of his declaration made under VDIS 1997, which did not eventually materialize. ....

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....on before the Hon'ble Bombay High Court, Aurangabad Bench. The same was also subsequently withdrawn. The AO completed the assessment u/s.158BC making addition, inter alia, of Rs. 11,96,600/-, being, the subject matter of the rejected VDIS declaration. The assessee remained unsuccessful before the ld. CIT(A) on this account, against which he has approached the Tribunal. 4. We have heard both ....

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....O to enhance the assessed income by Rs. 11,96,000/-. The assessee filed appeal against such order passed u/s.263. Vide order dated 11-10-2007, the Tribunal, in ITA No.716/PN/2002, has setaside the assessment order and remitted the matter to the file of AO with the following observations : "10. In view of the facts and circumstances of the case and the legal position as discussed above, we....

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....jected to the search and seizure action on the same date. He also filed VDIS 1997 offering income of Rs. 11,96,000/- which was rejected by the ld. CIT and the Hon'ble Bombay High Court also did not allow relief to him on that score. It is further noticed that in the hands of the assessee's brother also, income in the VDIS 1997 declaration of Rs. 11,96,000/- was on account of entries in kaccha cash....