https://www.taxtmi.com/caselaws?id=151153 In block assessment proceedings, additions as undisclosed income require cogent supporting material and cannot rest on conjecture where the assessee's explanation is backed by contemporaneous records. Fixed deposits in family members' names were explained through disclosed interest income, maturity proceeds, savings, gifts and other identified sources, so the unexplained investment addition failed. Bank credits and alleged construction cost of a third floor were supported by regular-return disclosures, seized material and explained transactions, so undisclosed sale consideration and further investment were not established. Loose notings for jewellery were also satisfactorily explained, and the addition was deleted. en-us Fri, 05 Mar 2010 00:00:00 +0530 Fri, 31 May 2013 16:29:15 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=151153 In block assessment proceedings, additions as undisclosed income require cogent supporting material and cannot rest on conjecture where the assessee's explanation is backed by contemporaneous records. Fixed deposits in family members' names were explained through disclosed interest income, maturity proceeds, savings, gifts and other identified sources, so the unexplained investment addition failed. Bank credits and alleged construction cost of a third floor were supported by regular-return disclosures, seized material and explained transactions, so undisclosed sale consideration and further investment were not established. Loose notings for jewellery were also satisfactorily explained, and the addition was deleted. Case-Laws Income Tax Fri, 05 Mar 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=151153