https://www.taxtmi.com/caselaws?id=117183 In block assessment proceedings, additions based only on estimates or assumptions were not upheld where the assessee's explanation was supported by books or contemporaneous material and no incriminating evidence was found. Cash found at the residence was accepted as linked to the firm's cash-in-hand and the addition was deleted. Additions for alleged unexplained investment in lands and FDRs were remanded for fresh verification because the cash flow statement had not been properly examined. The addition for difference in construction cost based on the DVO report was deleted. Estimated truck income was sustained only partly, and interest under section 158BFA was deleted on the facts noted. en-us Mon, 30 Dec 2002 00:00:00 +0530 Wed, 01 Aug 2012 00:17:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117183 In block assessment proceedings, additions based only on estimates or assumptions were not upheld where the assessee's explanation was supported by books or contemporaneous material and no incriminating evidence was found. Cash found at the residence was accepted as linked to the firm's cash-in-hand and the addition was deleted. Additions for alleged unexplained investment in lands and FDRs were remanded for fresh verification because the cash flow statement had not been properly examined. The addition for difference in construction cost based on the DVO report was deleted. Estimated truck income was sustained only partly, and interest under section 158BFA was deleted on the facts noted. Case-Laws Income Tax Mon, 30 Dec 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117183