https://www.taxtmi.com/caselaws?id=65514 The Tribunal confirmed the AO's order, dismissing both appeals and upholding that the goods/assets were undisclosed income. It was determined that the trucks were coming from Almora to Haldwani, the assessee did not have ample stock for sales, and the goods were undervalued. The requisition under section 132A(1) and the block assessment under section 158BC were deemed valid. Despite the assessee's arguments, the Tribunal found insufficient evidence to support the claims and rejected the adjustment of auctioned amounts against tax demands. en-us Fri, 10 Mar 2006 00:00:00 +0530 Mon, 17 Jun 2013 14:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=65514 The Tribunal confirmed the AO's order, dismissing both appeals and upholding that the goods/assets were undisclosed income. It was determined that the trucks were coming from Almora to Haldwani, the assessee did not have ample stock for sales, and the goods were undervalued. The requisition under section 132A(1) and the block assessment under section 158BC were deemed valid. Despite the assessee's arguments, the Tribunal found insufficient evidence to support the claims and rejected the adjustment of auctioned amounts against tax demands. Case-Laws Income Tax Fri, 10 Mar 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=65514