https://www.taxtmi.com/caselaws?id=64286 Block assessment additions cannot rest on uncorroborated seized jottings or on valuation estimates alone; the Revenue must support alleged undisclosed sale consideration, unexplained construction cost, or asset investment with reliable material and independent enquiry. On the facts discussed, additions based on loose papers, unverified assumptions, and unsupported valuation were deleted, while the debenture investment and part of the UTI investment were treated as unexplained because the source was not satisfactorily proved. en-us Mon, 21 Sep 1998 00:00:00 +0530 Sat, 05 Feb 2011 18:21:46 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64286 Block assessment additions cannot rest on uncorroborated seized jottings or on valuation estimates alone; the Revenue must support alleged undisclosed sale consideration, unexplained construction cost, or asset investment with reliable material and independent enquiry. On the facts discussed, additions based on loose papers, unverified assumptions, and unsupported valuation were deleted, while the debenture investment and part of the UTI investment were treated as unexplained because the source was not satisfactorily proved. Case-Laws Income Tax Mon, 21 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64286