D.KRISHNAKUMAR, J

This Appeal has been filed under Section 260A of the Income Tax Act 1961 against the order of the Income Tax Appellate Tribunal, Bench ‘A’, Chennai in I.T.SSA.No.95/MDS/2003 for the assessment year : Block period 1.4.1990 to 11.1.2001 , dated 29.5.2006.

2. A search under Section 132 of the Act was conducted at the residential and business premises of the appellant on 10.1.2001 and the same was concluded on 16.4.2001. During the search operation, cash of Rs.2,51,75,309/- forming part of Fixed Deposit Certificates worth Rs.5,98,75,340/- and 3031.5gms of jewellery were seized. In response to the notice dated 1.6.2001 issued under section 158BC of the Act to file the Block Return within 16 days, the assesee filed the return on 8.1.2002 admitting total undisclosed income of Rs.1,41,50,975/-. In the course of the Block Assessment Proceedings, the assessee admitted further undisclosed income of Rs.3,95,632/-. Based on the materials made available, the assessing authority determined the tax liability as Rs.1,20,55,160/- which included Surcharge @ 17% amounti