https://www.taxtmi.com/caselaws?id=207263 The High Court upheld the validity of the assessment under Section 158BD, overturning the Tribunal's decision to cancel the block assessment against the respondent-assessee. The assessment, based on evidence seized during a search at another person's premises, specifically a Balance Sheet showing investments made by the assessee in a partnership firm, was deemed valid. The Court found that the assessment was primarily supported by this evidence, not solely reliant on information provided by the assessee. The case was remanded back to the Tribunal for further proceedings, including consideration of other issues raised in cross-objections. en-us Thu, 07 Jan 2010 00:00:00 +0530 Thu, 14 Jun 2012 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=207263 The High Court upheld the validity of the assessment under Section 158BD, overturning the Tribunal's decision to cancel the block assessment against the respondent-assessee. The assessment, based on evidence seized during a search at another person's premises, specifically a Balance Sheet showing investments made by the assessee in a partnership firm, was deemed valid. The Court found that the assessment was primarily supported by this evidence, not solely reliant on information provided by the assessee. The case was remanded back to the Tribunal for further proceedings, including consideration of other issues raised in cross-objections. Case-Laws Income Tax Thu, 07 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=207263