https://www.taxtmi.com/caselaws?id=66116 In block assessment, unexplained investment in house property may be treated as undisclosed income where search material and an admission recorded under section 132(4) show unrecorded construction cost. A valuation report may be used to quantify the investment if it is supplied to the assessee and objections are considered; it is not conclusive by itself. Reasonable adjustment for self-supervision and local rate differences may be allowed when fixing the addition. The stated position is that the block assessment can proceed on this basis, while the quantified addition may be reduced to reflect valuation objections. en-us Mon, 06 Mar 2000 00:00:00 +0530 Mon, 21 Feb 2011 16:21:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66116 In block assessment, unexplained investment in house property may be treated as undisclosed income where search material and an admission recorded under section 132(4) show unrecorded construction cost. A valuation report may be used to quantify the investment if it is supplied to the assessee and objections are considered; it is not conclusive by itself. Reasonable adjustment for self-supervision and local rate differences may be allowed when fixing the addition. The stated position is that the block assessment can proceed on this basis, while the quantified addition may be reduced to reflect valuation objections. Case-Laws Income Tax Mon, 06 Mar 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66116