https://www.taxtmi.com/caselaws?id=66389 In a block assessment under search provisions, undisclosed income must be computed only on the basis of evidence found during the search and material relatable to that evidence. An estimated suppression of turnover for earlier years, derived by extrapolating the search-period ratio of accounted to unaccounted sales, was held arbitrary because no seized material or admission supported those earlier years. On the same footing, an addition for initial capital allegedly needed to run an undisclosed business for earlier years could not survive. The additions for suppressed turnover and capital employed were deleted. en-us Fri, 06 Jul 2007 00:00:00 +0530 Thu, 08 Feb 2024 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66389 In a block assessment under search provisions, undisclosed income must be computed only on the basis of evidence found during the search and material relatable to that evidence. An estimated suppression of turnover for earlier years, derived by extrapolating the search-period ratio of accounted to unaccounted sales, was held arbitrary because no seized material or admission supported those earlier years. On the same footing, an addition for initial capital allegedly needed to run an undisclosed business for earlier years could not survive. The additions for suppressed turnover and capital employed were deleted. Case-Laws Income Tax Fri, 06 Jul 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66389