https://www.taxtmi.com/caselaws?id=206898 In block assessment proceedings, material available with the Assessing Officer on the search date, including a statement recorded before the search, could be relied on under the amended section 158BB(1), which operated retrospectively from 1-7-1995. On the evidence, deposits and interest credits were treated as undisclosed income because some creditors' statements showed the credits were not genuine, while later statements from others were rejected for lack of supporting material and proof of funds. The High Court treated these findings as concurrent factual determinations and declined interference. The block assessment was sustained and the assessee's appeals failed. en-us Mon, 04 Jan 2010 00:00:00 +0530 Sat, 19 Nov 2011 18:42:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=206898 In block assessment proceedings, material available with the Assessing Officer on the search date, including a statement recorded before the search, could be relied on under the amended section 158BB(1), which operated retrospectively from 1-7-1995. On the evidence, deposits and interest credits were treated as undisclosed income because some creditors' statements showed the credits were not genuine, while later statements from others were rejected for lack of supporting material and proof of funds. The High Court treated these findings as concurrent factual determinations and declined interference. The block assessment was sustained and the assessee's appeals failed. Case-Laws Income Tax Mon, 04 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=206898