https://www.taxtmi.com/caselaws?id=116651 Credits of Rs. 30,000 and Rs. 20,000 were not treated as undisclosed income because they were reflected in the regular returns and balance-sheet, and no search material displaced their disclosed character. The larger credit of Rs. 55 lakhs raised a dispute on whether an amount recorded in regular books and supported by seized material and confirmations could still be assessed as undisclosed income in block assessment, or whether mismatch with seized ledger entries and lack of satisfactory proof justified addition under section 68. The issue on the Rs. 55 lakhs credit remained unresolved on account of a difference of opinion and was referred for further decision under section 255(4). en-us Mon, 31 May 2004 00:00:00 +0530 Wed, 01 Aug 2012 00:13:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=116651 Credits of Rs. 30,000 and Rs. 20,000 were not treated as undisclosed income because they were reflected in the regular returns and balance-sheet, and no search material displaced their disclosed character. The larger credit of Rs. 55 lakhs raised a dispute on whether an amount recorded in regular books and supported by seized material and confirmations could still be assessed as undisclosed income in block assessment, or whether mismatch with seized ledger entries and lack of satisfactory proof justified addition under section 68. The issue on the Rs. 55 lakhs credit remained unresolved on account of a difference of opinion and was referred for further decision under section 255(4). Case-Laws Income Tax Mon, 31 May 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=116651