https://www.taxtmi.com/caselaws?id=66383 In block assessment, undisclosed income must be computed only on the basis of evidence found during search or material clearly relatable to such evidence. A seized paper showing a rounded-off outstanding sale consideration, together with bank evidence, did not establish separate on-money receipt, and unilateral notional interest calculation did not create taxable accrual because no enforceable right to interest was shown. Later profit and loss account entries and bad debt claims filed with a regular return could not support block additions when they were not found in search material. An amount already assessed in regular proceedings also could not be duplicated as undisclosed income. en-us Fri, 15 Sep 2006 00:00:00 +0530 Sat, 14 Jul 2012 12:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66383 In block assessment, undisclosed income must be computed only on the basis of evidence found during search or material clearly relatable to such evidence. A seized paper showing a rounded-off outstanding sale consideration, together with bank evidence, did not establish separate on-money receipt, and unilateral notional interest calculation did not create taxable accrual because no enforceable right to interest was shown. Later profit and loss account entries and bad debt claims filed with a regular return could not support block additions when they were not found in search material. An amount already assessed in regular proceedings also could not be duplicated as undisclosed income. Case-Laws Income Tax Fri, 15 Sep 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66383