https://www.taxtmi.com/caselaws?id=71691 In block assessment, an addition cannot be treated as undisclosed income merely because a Valuation Officer estimated construction cost at a higher figure. Where the expenditure was recorded in the regular books and the search yielded no seized material or other evidence showing investment outside the books, the estimated difference had no basis for taxation as undisclosed income. The valuation report alone was insufficient, and the addition was deleted. en-us Fri, 12 Mar 1999 00:00:00 +0530 Tue, 26 Apr 2011 16:20:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=71691 In block assessment, an addition cannot be treated as undisclosed income merely because a Valuation Officer estimated construction cost at a higher figure. Where the expenditure was recorded in the regular books and the search yielded no seized material or other evidence showing investment outside the books, the estimated difference had no basis for taxation as undisclosed income. The valuation report alone was insufficient, and the addition was deleted. Case-Laws Income Tax Fri, 12 Mar 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=71691