Delhi Court March 2000 Judgments

Ravi Prakash Agarwal (Huf) Vs. Assistant Commissioner of Income Tax

Court: Delhi

Reported in: (2000)67TTJ(Del)234

1. This is an appeal by the assessee against the block assessment order for the block period of previous years 1985-86 to 11th September, 1995 passed under s. 158BC(c) r/w s. 158BD of the IT Act, 1961.2. The facts in brief are that the storage and seizure operations were conducted on 11th September, 1995, in the business premises of M/s Raghunandan Prasad Saraf, Sarafa Bazaar, Meerut, and in the residential premises of the partners of the firm. Shri Ravi Prakash Agarwal was the partner in M/s. Raghunandan Prasad Saraf in his individual capacity. During the search and seizure operations in the business premises of Shri Ravi Prakash Agarwal, certain incriminating documents relating to M/s. Multi-Max Engineering Works of which Shri Ravi Prakash Agarwal (HUF) was the proprietor, were found and seized. Thereafter, account books including cash book, ledger and stock register were also impounded. A notice under s. 158BD was issued and served upon the assessee on 14th December, 1996. In respon...