2007 (12) TMI 219

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....BC of the Act assessing a total undisclosed income of Rs. 12,19,481 and assessing tax thereon. 2. The appeal was admitted, vide order dated December 9, 2002, by framing four substantial questions of law. First being as to whether for the purposes of block assessment under section 158BC the computation of undisclosed income can include income of any previous year which was below taxable limit but for which no return under section 139 was filed since there was no obligation under the Act to file the return. Then second question is as to whether the Tribunal has failed to appreciate that the burden of proof lies heavily on the Department to show that the undisclosed income belongs to the assessee alone and none else was evident from the sei....

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.... As we find from the documents produced by the appellant from page 91 onwards of this appeal that during each of the assessment years the computation of income as done by the Assessing Officer shows that for each year the income was found to be above the taxable limit. Therefore, the question on the face of it remains only abstract. However, it was then submitted by learned counsel for the appellant that the learned Tribunal has deleted certain additions made by the Assessing Officer and those deletions would have the effect of bringing down the computation of income of certain assessment years to a level below the taxable limit. 6. Suffice it to say that if consequent upon the deletions made by the learned Tribunal so also consequent up....

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....income. 8. To illustrate, a huge amount of Rs. 1,27,170 and another amount of Rs. 90,475, representing the gold found in possession of the assessee has been deleted by the Tribunal being satisfied with the explanation of the assessee. Likewise, the addition of certain deposits made under the RD account and to some extent the amounts paid for purchase of LIC, etc., have also been deleted. Then so far as the items which were alleged or claimed by the assessee to be acquired from out of the assets of the parents or having been devolved on him by inheritance have also all been examined threadbare and for good and cogent reasons, the explanation given by the assessee has not been found to be correct or convincing and regarding some items it h....