https://www.taxtmi.com/caselaws?id=68465 Block assessment additions must rest on incriminating search material; an isolated bogus credit does not justify treating an entire account or all related transactions as undisclosed income. Cash credits directly matched between seized cash records and regular-book cheque entries were treated as accommodation entries, with related interest disallowance limited to sustained credits. Additions lacking a proven search nexus, including estimated investment in unrecorded trading and ad hoc expense disallowances, were not sustainable. Unexamined bank and party credits required fresh verification against regular books and seized material. Peak-credit computation and telescoping were available to restrict taxation to the real unexplained peak and permit appropriate set-off. en-us Mon, 16 Jul 2001 00:00:00 +0530 Wed, 30 Mar 2011 15:49:43 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68465 Block assessment additions must rest on incriminating search material; an isolated bogus credit does not justify treating an entire account or all related transactions as undisclosed income. Cash credits directly matched between seized cash records and regular-book cheque entries were treated as accommodation entries, with related interest disallowance limited to sustained credits. Additions lacking a proven search nexus, including estimated investment in unrecorded trading and ad hoc expense disallowances, were not sustainable. Unexamined bank and party credits required fresh verification against regular books and seized material. Peak-credit computation and telescoping were available to restrict taxation to the real unexplained peak and permit appropriate set-off. Case-Laws Income Tax Mon, 16 Jul 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68465