IN THE ITAT COCHIN BENCH
Assistant Commissioner of Income-tax
Versus
Smt. Sula Jayakumar
IT (SS) Appeal no. 187 (coch.) of 2005
[BLOCK PERIOD 1-4-1996 TO 28-5-2002]
SEPTEMBER 14, 2012
ORDER
B.R. Baskaran, Accountant Member
The appeal of the Revenue and the cross-objection filed by the assessee are directed against the order dated August 10, 2005 passed by the learned Commissioner of Income-tax (Appeals)-1, Kochi and they relate to the block period ending May 28, 2002.
2. The facts relating to the case are stated in brief. The assessee is the managing trustee of a trust named M/s. Sabarigiri Trust. The said trust runs a high school at a place called Anchal. The assessee is operating a boarding hostel for the students of a residential school run by a society named M/s. Sabarigiri Educational and Cultural Society. The said society is managed by her husband, Shri V. K. Jayakumar. The Department carried out search and seizure operations in the hands of Shri V. K. Jayakumar. During the course of search, certain incriminating documents pertaining to the assessee herein were seized. Consequently, a notice under section 158BC read with section 158BD was issued to the assessee on December 12, 2002. Since the block period was wrongly mentioned in the said notice as “April 1, 1996 to June 18, 2002”, a corrigendum was issued on August 8, 2003 correcting the block period as “April 1, 1996 to May 28, 2002”. The dated May 28, 2002 is the date of commencement of the search and the dated June 18, 2002 is the date of conclusion of search.
3. The assessee filed her block return on June 19, 2003 declaring an undisclosed income of Rs. 11,90,580. The assessee also filed cash flow statements explaining various investments. The assessee had filed her regular returns of income relating to the assessment years 1999-2000 to 2001-02 prior to the date of search. The returns of income relating to the assessment years 2002-03 was filed subsequent to the date of search. The Assessing Officer determined the undisclosed income at Rs. 29,05,113 in the block assessment proceeding by making various additions. The assessee challenged the said additions before the learned Commissioner of Income-tax (Appeals) and got partial relief. Hence, both parties are in appeal before us on the issues decided against each of them.
4. We shall take up the appeal filed by the Revenue, wherein the relief granted by the learned Commissioner of Income-tax (Appeals) on the following additions are being disputed.
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