https://www.taxtmi.com/caselaws?id=69600 Addition towards alleged "bogus sundry credits" in a block assessment was held unsustainable because it was a sweeping 50% estimate extrapolated from limited enquiries, the underlying inspector reports/statements were not confronted to the assessee, and mere doubts about credits recorded in books did not satisfy the statutory concept of "undisclosed income" under s.158B(b); further, the AO could not both discredit seized accounts as unreliable and yet rely on selected entries from them. The addition was deleted and undisclosed income was directed to be taken at the returned figure. Retraction from an oath admission was rejected since no cogent evidence of coercion or involuntariness was produced; the admitted sum remained included in returned undisclosed income. Superior-authority dictation was found to vitiate independent adjudication, but annulment was declined due to the assessee's own returned admission; relief was confined to deleting the impugned addition. en-us Wed, 27 Aug 1997 00:00:00 +0530 Thu, 01 Jan 2026 14:28:10 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=69600 Addition towards alleged "bogus sundry credits" in a block assessment was held unsustainable because it was a sweeping 50% estimate extrapolated from limited enquiries, the underlying inspector reports/statements were not confronted to the assessee, and mere doubts about credits recorded in books did not satisfy the statutory concept of "undisclosed income" under s.158B(b); further, the AO could not both discredit seized accounts as unreliable and yet rely on selected entries from them. The addition was deleted and undisclosed income was directed to be taken at the returned figure. Retraction from an oath admission was rejected since no cogent evidence of coercion or involuntariness was produced; the admitted sum remained included in returned undisclosed income. Superior-authority dictation was found to vitiate independent adjudication, but annulment was declined due to the assessee's own returned admission; relief was confined to deleting the impugned addition. Case-Laws Income Tax Wed, 27 Aug 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=69600