https://www.taxtmi.com/caselaws?id=117604 The tribunal upheld the legality of the block assessment order, finding it based on evidence from the search, including bank account details and unexplained loan repayments. The transfer of the case between assessing officers was deemed valid, and compliance with Section 158BD was confirmed. The tribunal rejected the argument regarding the non-invocation of Section 2(35) of the IT Act and found no violation of natural justice principles. The addition of Rs. 50 lakhs as undisclosed income was upheld due to the appellant's failure to explain the source of the loan repayment, leading to the dismissal of the appeal. en-us Tue, 15 Mar 2005 00:00:00 +0530 Sun, 20 Jan 2013 20:07:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117604 The tribunal upheld the legality of the block assessment order, finding it based on evidence from the search, including bank account details and unexplained loan repayments. The transfer of the case between assessing officers was deemed valid, and compliance with Section 158BD was confirmed. The tribunal rejected the argument regarding the non-invocation of Section 2(35) of the IT Act and found no violation of natural justice principles. The addition of Rs. 50 lakhs as undisclosed income was upheld due to the appellant's failure to explain the source of the loan repayment, leading to the dismissal of the appeal. Case-Laws Income Tax Tue, 15 Mar 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117604