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2007] 291 ITR 172 [2008] 166 TAXMAN 371 (RAJ.) HIGH COURT OF RAJASTHAN Commissioner of Income-tax v. Ashok Kumar Soni* RAJESH BALIA AND GOPAL KRISHAN VYAS, JJ. IT APPEAL NO. 90 OF 2001 JULY 28, 2006 Section 158BB of the Income-tax Act, 1961 - Block assessment in search cases - Undisclosed income, computation of - Block period 1987-88 to 1997-98 - During course of search conducted at premises of assessee, statements of assessee as well as his father were recorded - Assessing Officer, on basis of said statements, considered that out of his undisclosed income, assessee had made investment in construction of a house property to extent of Rs. 14.5 lakhs - In response to notice under section 158BC, assessee filed his return disclosing an amount of Rs. 7,50,000 as investment made for construction of house - Assessing Officer did not accept extent of amount so disclosed by assessee on basis of statement made by assessee's father and made an addition of Rs. 7,50,000 - Tribunal after taking into consideration statement of father of assessee and assessee's own statement during course of search, subsequent statement of assessee recorded in course of regular proceedings and valuation reports produced by assessee as well as by DVO, restricted addition to Rs. 7,50,000 - Tribunal had nowhere stated that it had acted merely on retracted statement of assessee but it had correctly stated principle regarding evaluation and evidentiary value of admissions - Whether statement of father of assessee could not be considered as admission of assessee - Held, yes - Whether since Tribunal after taking into consideration attending circumstances accepted assessee's declaration about undisclosed income used in investment, finding of fact could not be said to be vitiated - Held, yes FACTS During the course of search conducted at the premises of the assessee, the statements of the father of the assessee as well as the assessee were recorded. The Assessing Officer, on the basis of the said statements, considered that out of his undisclosed income, the assessee had made investment in the construction of a house property to the extent of Rs. 14.5 lakhs. As a result, the Assessing Officer initiated…

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