https://www.taxtmi.com/caselaws?id=77146 In block assessment, an addition for alleged undisclosed investment in property could not be sustained where the search yielded no incriminating material and the investment had already been disclosed in the return and accepted in regular assessment under section 143(3). The Tribunal applied the principle that block assessment must be based on evidence found during search or material directly relatable to such evidence, and held that a District Valuation Officer's report alone was insufficient to justify the addition. The addition was therefore not sustainable in block assessment. en-us Mon, 04 Aug 2008 00:00:00 +0530 Sat, 02 Feb 2013 10:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=77146 In block assessment, an addition for alleged undisclosed investment in property could not be sustained where the search yielded no incriminating material and the investment had already been disclosed in the return and accepted in regular assessment under section 143(3). The Tribunal applied the principle that block assessment must be based on evidence found during search or material directly relatable to such evidence, and held that a District Valuation Officer's report alone was insufficient to justify the addition. The addition was therefore not sustainable in block assessment. Case-Laws Income Tax Mon, 04 Aug 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=77146