https://www.taxtmi.com/caselaws?id=61685 In block assessment proceedings under the Income-tax Act, additions cannot be sustained merely on a Valuation Officer's estimate unless supported by incriminating material found during search or other reliable evidence of undisclosed income. On that principle, additions based only on valuation report were deleted. The addition for household articles was confined to the amount actually surrendered, and the excess was deleted because the assessment record did not support enhancement. NRI gifts disclosed in the regular return before search were not treated as undisclosed income in the absence of seized material. The remaining issue concerning gifts received by family members was remitted for fresh verification. en-us Mon, 26 Apr 2004 00:00:00 +0530 Thu, 13 Jan 2011 18:35:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61685 In block assessment proceedings under the Income-tax Act, additions cannot be sustained merely on a Valuation Officer's estimate unless supported by incriminating material found during search or other reliable evidence of undisclosed income. On that principle, additions based only on valuation report were deleted. The addition for household articles was confined to the amount actually surrendered, and the excess was deleted because the assessment record did not support enhancement. NRI gifts disclosed in the regular return before search were not treated as undisclosed income in the absence of seized material. The remaining issue concerning gifts received by family members was remitted for fresh verification. Case-Laws Income Tax Mon, 26 Apr 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61685