Law:

Section:

Section 158B of the Income-tax Act, 1961 - Block assessment in search cases - Undisclosed income - Assessment year 1996-97 - During search and seizure operation conducted at premises of assessee, a register with reference to some cancelled and blank bills was recovered - On basis of this, Assessing Officer made an estimation of income of assessee - Tribunal found that cancelled and blank bills were a part of regular bill books maintained by assessee for its business purposes; that all bill numbers were entered in sale register and they were tallied on basis of sales made or as cancelled bills found entered in sale register serialwise - Tribunal also noted that for same assessment year, assessee had filed regular returns which were accepted by revenue - Tribunal accordingly, concluded that there was no ground for making any estimation of sales by Assessing Officer on basis of blank and cancelled bills - Whether no substantial question of law arose for consideration - Held, yes R.D. Jolly for the Appellant. C.S. Aggarwal and Prakash Kumar for the Respondent ORDER 1. The revenue is aggrieved by an order dated 19-2-2003 passed by the Income-tax Appellate Tribunal, Delhi Bench 'C' in IT (SS) Nos. 44, 45, 48 and 49 (Delhi)/97 relevant for the block period 1-4-1985 to 22-2-1996. 2. The Tribunal allowed all the four appeals and in respect of one of them [IT(SS) 49 (Delhi)/97], the revenue preferred an appeal under section 260A of the Income-tax Act, 1961 being ITA No. 178/2004. By an order dated 26-4-2004 the Division Bench came to the conclusion that no substantial question of law had arisen in the matter. Accordingly, the appeal was dismissed. 3. Independent of that decision we have examined the facts in the present appeals with regard to the substantial questions of law proposed by the revenue. 4. It appears that a search and seizure operation under section 132 of the Act was conducted in the residential and business premises of the assessee on 22-2-1996. Among the documents recovered were a register with reference to some cancelled and blank bills. On the basis of this, an estimation was made of the income of the assessee for the assessment year 1996-97 (there is…

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