Delhi HC dismisses appeal on undisclosed property investment during block assessment period.

The Delhi HC dismissed an appeal regarding undisclosed property investment during a specific block period. The ITAT upheld the deletion of the addition by the AO, citing lack of evidence found during search to support the undisclosed investment. The Tribunal emphasized that block assessment should rely on evidence discovered during the search, which was lacking in this instance. Consequently, the appeal was dismissed as no significant legal question emerged.

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The Delhi High Court dismissed an appeal related to undisclosed property investment during the block period April 1, 1996, to October 4, 2002. The Income-tax Appellate Tribunal upheld the deletion of the addition made by the Assessing Officer, as there was no evidence found during search to support the undisclosed investment. The Tribunal ruled that block assessment must be based on evidence found during search, and in this case, no such evidence existed. The appeal was dismissed as no substantial question of law arose.

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