- (1.) This appeal takes exception to the judgment and order dated 28.04.2008 passed by the High Court of Delhi at New Delhi in ITA No. 223 of 2005, whereby the appeal filed by the Department was allowed and the issue of deletion of undisclosed income of the assessee answered against the appellant-assessee.
(2.) After hearing learned counsel for the parties and perusing the impugned judgment as well as the judgment of the Assessing Officer and the Appellate Tribunal, we find that the Income Tax Appellate Tribunal (for short, "ITAT") had analyzed all the relevant facts, materials and documents to arrive at the conclusion that it was not a case of non-disclosure as assumed by the Department.
(3.) That decision was taken up in appeal by the Department before the High Court, which had framed the following question as substantial question of law: "Whether the Income Tax Appellate Tribunal was correct in law in deleting the undisclosed income of the Assessee as recorded by the Securities and Exchange Commission in USA?" ;