https://www.taxtmi.com/caselaws?id=63792 In block assessment, additions had to be based on incriminating material found in search; income already disclosed in regular returns or books could not be reassessed merely because the Revenue doubted it. Additions for house property investment, alleged investment in Saharanpur Associates, NRI gifts, capital gains, gifts in the minor son's name, moneylending entries, and Thrill Hotels purchase were deleted where no reliable corroboration or proved nexus with the assessee existed. Additions for household appliances and part of foreign travel expenditure were sustained because search material showed unexplained purchases and expenditure. The Tribunal thus held that loose papers or third-party documents alone were insufficient without supporting evidence. en-us Tue, 09 Dec 2003 00:00:00 +0530 Wed, 03 Jul 2024 11:15:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63792 In block assessment, additions had to be based on incriminating material found in search; income already disclosed in regular returns or books could not be reassessed merely because the Revenue doubted it. Additions for house property investment, alleged investment in Saharanpur Associates, NRI gifts, capital gains, gifts in the minor son's name, moneylending entries, and Thrill Hotels purchase were deleted where no reliable corroboration or proved nexus with the assessee existed. Additions for household appliances and part of foreign travel expenditure were sustained because search material showed unexplained purchases and expenditure. The Tribunal thus held that loose papers or third-party documents alone were insufficient without supporting evidence. Case-Laws Income Tax Tue, 09 Dec 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63792