https://www.taxtmi.com/caselaws?id=70824 In a block assessment following search and seizure, the dominant issue was whether undisclosed income could be assessed merely on the ad hoc amount returned in the block return, or at a lower figure later computed on the basis of seized material. The ITAT held that, where group-wide ad hoc disclosure was necessitated by mixed evidence and the assessee later furnished a detailed working showing lower undisclosed income, assessment must reflect "real income" once the working is verified as correct by the AO; the statutory proviso to s. 158BC did not bar such reduction. Consequently, the CIT(A)'s direction to assess undisclosed income at the finally determined lower amount was upheld, and both the Revenue's appeal and the assessee's cross-objection were dismissed. en-us Tue, 22 Oct 2002 00:00:00 +0530 Thu, 25 Dec 2025 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70824 In a block assessment following search and seizure, the dominant issue was whether undisclosed income could be assessed merely on the ad hoc amount returned in the block return, or at a lower figure later computed on the basis of seized material. The ITAT held that, where group-wide ad hoc disclosure was necessitated by mixed evidence and the assessee later furnished a detailed working showing lower undisclosed income, assessment must reflect "real income" once the working is verified as correct by the AO; the statutory proviso to s. 158BC did not bar such reduction. Consequently, the CIT(A)'s direction to assess undisclosed income at the finally determined lower amount was upheld, and both the Revenue's appeal and the assessee's cross-objection were dismissed. Case-Laws Income Tax Tue, 22 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70824