2008 (9) TMI 108

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....ring for the appellant and perused the order of the Income Tax Appellate Tribunal dated 20.5.2005 giving rise to the present Income Tax Appeal. The Revenue has approached the Court on the following two substantial questions of law:- " 1. Whether on the facts and in the circumstances of the case, the Hon'ble Income Tax Appellate Tribunal has erred in law in holding that the income shown by th....

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....ing that the statement recorded u/s 132 (4) of the Act during the course of the search constituted evidence found as a result of search and the material available with the AO within the meaning of the provisions of Section 158 BB of the Act, on the basis of which undisclosed income was correctly taxed in the hands of the assessee." We find that the Tribunal has dealt with the matter in paragrap....