https://www.taxtmi.com/caselaws?id=64297 Block-assessment additions require incriminating material establishing undisclosed income; valuation reports and estimated sale consideration cannot alone prove unrecorded receipts where recorded consideration is confirmed and books are not rejected. FDRs, cash credits, related interest and cash expenses supported by books, confirmations and seized material cannot be treated as undisclosed income without proof of transactions outside the recorded accounts. Interest under section 158BFA(1) cannot be demanded unless specifically determined by an order; penalty initiation is insufficient. The discussed additions and interest demand were deleted, while one issue was remanded for fresh adjudication. en-us Mon, 02 Aug 2004 00:00:00 +0530 Mon, 07 Feb 2011 10:31:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=64297 Block-assessment additions require incriminating material establishing undisclosed income; valuation reports and estimated sale consideration cannot alone prove unrecorded receipts where recorded consideration is confirmed and books are not rejected. FDRs, cash credits, related interest and cash expenses supported by books, confirmations and seized material cannot be treated as undisclosed income without proof of transactions outside the recorded accounts. Interest under section 158BFA(1) cannot be demanded unless specifically determined by an order; penalty initiation is insufficient. The discussed additions and interest demand were deleted, while one issue was remanded for fresh adjudication. Case-Laws Income Tax Mon, 02 Aug 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=64297