V. B. GUPTA, J.

( 1 ) REVENUE has filed the present appeal under Section 260a of the Income Tax act (for short to be referred as 'act) challenging the order dated 14th february, 2005 passed by the Income Tax Appellate Tribunal, Delhi Bench "c" in it (SS) No. 455 (Del)/2003 for block period assessment year 1991-92 to 14th february, 2001.

( 2 ) THE relevant facts of this case are that a search operation under section 132 of the Act was carried out in the Usha India Ltd. and Assessee is one of the promoters of the said company. During the course of search one agreement to sell marked as AD 46 was seized from the premises of the Assessee which was in respect of land situated at Daultabad Road, Shivana, Gurgaon. In this agreement it has been mentioned that an earnest money of Rs. 34,01,784/-will be paid by the transferee to transferor at the time of signing of this agreement and balance consideration of Rs. 1,36,07,140/- would be paid within the maximum period of three months, i. e. , up to 16th April, 2001. This agreement was duly signed by Mr. Jaswant Rai (Vendor) and Sh. Anil Goel (Vendee ). Though the agreement was supposed to be signed by another transferor also, i. e. , the pres