2003 are cross appeals arising out of the block assessment made under Section 158BC of the Act by order dated 29.8.2002. The assessee, Manoj Aggarwal ... dale of the search, comprised in the block period.
10. In the block assessment, apart from the addition for commission earned on accommodation entries
addition of Rs.
69,863/- is sustained in the block assessment period, then directions should
be issued to exclude the said income offered for taxation ... addition of Rs.
8,76,576/- is sustained in the block assessment period, then directions
should be issued to exclude the said income offered
lakhs in the block returns filed by them. The Assessing Officer has in the block assessment order made huge additions in every case ... statement was likely to hurt him as well in his independent block assessment proceedings. The learned Assessing Officer, therefore, concluded that Shri Ved Prakash Jain
assessee filled the block return on 18-8-1999 declaring undisclosed income of Rs. 7.5 lakhs. He completed the block assessment ... income declared by the assessee in the block return had been increased by him in the block assessment and, therefore, the assessee's case
hands of the assessee company as its undisclosed income in the block assessment since both these companies had already merged in the assessee company ... Officer to the undisclosed income of the assessee company in the block assessment by invoking the provisions of Section 92 and relying on the decision
undisclosed income. This assessment was framed on 31.5.1997. This assessment stood sot aside by the Tribunal and in the fresh assessment completed ... addition to the regular assessment already done or to be done. The assessment for the block period can only be done on the basis
search conducted under Section 132 while disposing the appeal against block assessment ?"
2. Since the above question referred to this Bench for consideration ... procedure for assessment of search cases was introduced in the statute by the Finance Act, 1995 , and since the assessment for the block period assessing
addition to the
regular assessment already done or to be done. The assessment
for block period can only be done on the basis ... make a
distinction between the block assessment and the regular
assessment. In the case of regular assessment, the AO is
free to examine the veracity
addition to the regular assessment already done or to be done. The assessment for the block period can only be done on the basis ... block period at Rs. 12,37,705 is to be deleted because in view of our finding recorded above, the block assessment order cannot
during the course of framing regular assessment and not in the block assessment otherwise addition called for if any, to be considered under Chapter ... considered in the regular assessment which is independent of block assessment. In this context we however, note that the documents reads as under (Annexure
