https://www.taxtmi.com/caselaws?id=70824 In block assessment under Chapter XIV-B, undisclosed income must be computed from search material and the statutory scheme, not bound by the higher figure originally returned by the assessee. A returned amount is not conclusive, and no estoppel arises against the statute; where verification of the working showed a lower correct figure, assessment at that lower amount was proper. A separate addition for share investment was also unwarranted because the source was explained through withdrawals already reflected in the rough diaries and included in the returned undisclosed income, with no contrary material to displace that explanation. 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 block assessment under Chapter XIV-B, undisclosed income must be computed from search material and the statutory scheme, not bound by the higher figure originally returned by the assessee. A returned amount is not conclusive, and no estoppel arises against the statute; where verification of the working showed a lower correct figure, assessment at that lower amount was proper. A separate addition for share investment was also unwarranted because the source was explained through withdrawals already reflected in the rough diaries and included in the returned undisclosed income, with no contrary material to displace that explanation. Case-Laws Income Tax Tue, 22 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70824