Law:

Section:

Section 132A, read with section 158B, of the Income-tax Act, 1961 - Search and seizure - Requisition of books of account, etc. - Block period 1-4-1989 to 30-3-2000 - Whether validity of administrative decision for conducting search and seizure could not be considered by Tribunal in appeal proceedings; it forms an independent subject-matter - Held, yes Section 158BA of the Income-tax Act, 1961 - Block assessment in search cases - Assessment of undisclosed income - Block period 1-4-1989 to 30-3-2000 - On receiving intimation from Central Excise Department about seizure of certain sum from premises of assessee, Income-tax Department initiated proceedings under section 132A and a notice under section 158BC was served upon assessee - Assessee filed return for block period declaring nil income and submitted that said seized sum represented sales realizations collected by one R - Assessing Officer treated said sum as undisclosed income and made addition - Commissioner (Appeals) deleted addition on ground that assessee had given details of sales bills which justified its stand and 'R' had also confirmed same and, thus, addition was not based on any cogent reasons - However, Tribunal reversed order passed by Commissioner (Appeals) - Whether since Tribunal had not recorded any reason for reversing detailed order passed by Commissioner (Appeals) and plausibility of submission made by assessee was required to be considered, matter be remanded to it for re-adjudication - Held, yes [Matter remanded] FACTS On receiving intimation from the Central Excise Department regarding seizure of a sum of Rs. 10,25,000 from the premises of the assessee, the proceedings under section 132A were initiated against the assessee and a notice under section 158BC was served upon him. Return of income for block assessment was filed by the assessee declaring total undisclosed income as nil. In response to show-cause notice as to why said sum should not be added to his income for the block period, the assessee explained before the Assessing Officer that said sum was on account of sales realizations collected by 'R' against sale bill Nos. 46 to 56. However, the Assessing Officer held that said cash…

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