https://www.taxtmi.com/caselaws?id=71171 In block assessment, additions based on seized papers were unsustainable where the brokerage income had already been disclosed in regular returns and the search material did not reveal any corresponding undisclosed assets or complete transaction record. The Tribunal held that incomplete documents could not justify taxing disclosed income again, and deleted the brokerage addition. It also upheld deletion of the addition for unexplained investment in house property because the investment had already been disclosed in regular returns and the seized material did not independently establish concealed investment. The governing principle stated was that block assessment additions must rest on search material showing undisclosed income or undisclosed investment. en-us Fri, 30 Sep 2005 00:00:00 +0530 Thu, 21 Apr 2011 16:52:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71171 In block assessment, additions based on seized papers were unsustainable where the brokerage income had already been disclosed in regular returns and the search material did not reveal any corresponding undisclosed assets or complete transaction record. The Tribunal held that incomplete documents could not justify taxing disclosed income again, and deleted the brokerage addition. It also upheld deletion of the addition for unexplained investment in house property because the investment had already been disclosed in regular returns and the seized material did not independently establish concealed investment. The governing principle stated was that block assessment additions must rest on search material showing undisclosed income or undisclosed investment. Case-Laws Income Tax Fri, 30 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71171