https://www.taxtmi.com/caselaws?id=66817 Undisclosed stock detected in a survey that immediately led to a same-day search remained assessable as undisclosed income under the block assessment regime. A survey under section 133A is limited to inspection and recording statements without oath, whereas a search under section 132 is based on prior information and reason to believe, with stronger evidentiary consequences. Where the survey and search formed one continuous operation and no formal disclosure had occurred before the search, the excess stock did not lose its character as undisclosed income. The special search-based assessment procedure therefore applied, and regular assessment was not the proper forum. en-us Thu, 28 Feb 2008 00:00:00 +0530 Wed, 12 Jun 2013 12:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=66817 Undisclosed stock detected in a survey that immediately led to a same-day search remained assessable as undisclosed income under the block assessment regime. A survey under section 133A is limited to inspection and recording statements without oath, whereas a search under section 132 is based on prior information and reason to believe, with stronger evidentiary consequences. Where the survey and search formed one continuous operation and no formal disclosure had occurred before the search, the excess stock did not lose its character as undisclosed income. The special search-based assessment procedure therefore applied, and regular assessment was not the proper forum. Case-Laws Income Tax Thu, 28 Feb 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=66817