Income Tax Appellate Tribunal Itat Kolkata Court May 1997 Judgments Home Cases Income Tax Appellate Tribunal Itat Kolkata 1997 Page 1 of about 1 results (0.021 seconds)

Bhag Chand JaIn Vs. Assistant Commissioner of

Court : Income Tax Appellate Tribunal ITAT Kolkata

Reported in : (1998)65ITD11(Kol.)

This appeal arises against the block assessment made by the Assistant Commissioner of Income-tax, consequent to the search conducted on 8-8-1985.1. Vide Ground No. 1, assessee contends that the Assessing Officer is not correct including Rs. 64,636 as undisclosed income of the assessment year 1992-93 Ld. counsel submitted before us that the Income-tax return for the assessment year 1992-93 was belatedly filed on 14-2-1995 which was not taken into consideration. On the other hand, the ld. departmental representative submitted that the return of income for that year was not filed in time and so the income declared in the return was correctly treated as undisclosed income.2. We have carefully considered the rival submissions, Sub-section (6) of section 158B defines 'undisclosed income'. It essentially includes income 'which has not been or would not have been disclosed for the purposes of this Act'. In the instant case, assessee has filed acknowledgement of filing the return of income for...