- (1.) We have heard Shri Krishna Agarwal, learned counsel for the appellants. Shri Shambhu Chopra and Shri A.N. Mahajan appear for the department.
(2.) Out of these five Income Tax Appeals, three Income Tax Appeals Nos. 122 of 2008; 71 of 2008 and Income Tax Appeal Defective No. 25 of 2008 are directed against the order of the Income Tax Appellate Tribunal, Allahabad, dismissing the appeals of the assessee and partly/fully allowing the appeals of the revenue, and in two Income Tax Appeals No. 131 of 2008 and 129 of 2008, the orders of the Tribunal rejecting the applications for rectification dated 6.2.2008 are under challenge.
(3.) The appellant was subjected to block assessment of six years from 1.4.1989 to 08.12.1999 on the material discovered at the time of search and seizure on 8.12.1999 under Section 132 (1) of the Income Tax Act, 1961. He was issued notice under Section 158BC (a) on 22.11.2000 to file a return of his total income including the undisclosed income for the block period. The notice was served on the assessee on the same day. The return of income was due to be filed on or before 6.1.2001. It was, however, filed on 5.2.2001, showing undisclosed income at Rs. 54, 735/-. The A.O. by his order dated 28.12.2001 completed the block assessment at the total undisclosed income of Rs. 20,12,743/-. The tax and surcharge payable on the income under Section 113 and under Section 158BFA (1) (a) was payable for a net amount of Rs. 13, 54, 979/-. A penalty notice was directed to be issued separately.;