2005 (5) TMI 247

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....vances of the assessee. The first grievance is that the assessment framed under s. 158BC is barred by the time-limitation and other one is that the assessment has been wrongly made at Rs. 8,00,000. 3. The brief facts as stated, are that the assessee is a partner in M/s Al. Samit International and is also having other sources of income. His main source of income is from M/s Al. Samit International, which is engaged in the business of recruitment for foreign companies located in the middle east. 4. A search under s. 132(1) was initiated in the case of the firm M/s Al. Samit International as well as on its partners on 17th Sept., 1998. The search was initiated in the case of the assessee on 17th. Sept., 1998, at 8 a.m. and was concluded ....

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....he assessee also challenged before the CIT (A) that the income has been wrongly assessed at Rs. 8,00,000 as no undisclosed income was found during the search. The CIT(A) did not agree with the assessee and held that the articles placed under P.O. were neither seized nor need to be seized on that date and as such the search was temporarily concluded on 18th Sept., 1998 He also held that since the assessee had voluntarily filed the return for the block period at Rs. 8,00,000, the AO was not required to prove as to what is the source of the same. 7. Before us it is argued by the learned counsel for the assessee Shri Firoze Andhyanutina that on 17th Sept., 1998, the authorised officers were S/Shri V.K. Joy and S.S. Kamble as it is clear from....

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..... The authorization issued under s. 132(1) in favour of the authorised officer is to do any or all the acts provided in cls. (i) to (v) of said sub-section. In this case, the authorized officers were S/Shri V.K. Joy and S.S. Kamble, who searched the premises on 17th Sept., 1998 and concluded the search on 18th Sept., 1998 and prepared the Panchnama on 18th Sept., 1998. They also inventorised the jewellery and kept the same along with CPU under prohibitory orders vide order dt. 18th Sept., 1998. The Revenue has not shown any authorisation issued in favour of Shri K.V. Narsimhacharya who visited the premises on 13th Nov., 1998 and lifted the P.O. dt. 18th Sept., 1998. As per the provisions of s. 158BE the time-limitation starts from the end o....