https://www.taxtmi.com/caselaws?id=209306 The High Court affirmed the Tribunal's decision to dismiss the appeal regarding the addition of Rs. 27,31,200 as unexplained investment in property during the block assessment period. The Court held that the Assessing Officer's addition lacked a legal basis as it was not supported by material discovered during the search, emphasizing that such additions should stem from disclosed material. Therefore, the deletion of the addition was upheld, and the appeal was dismissed. en-us Mon, 30 Aug 2010 00:00:00 +0530 Wed, 24 Jul 2013 11:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=209306 The High Court affirmed the Tribunal's decision to dismiss the appeal regarding the addition of Rs. 27,31,200 as unexplained investment in property during the block assessment period. The Court held that the Assessing Officer's addition lacked a legal basis as it was not supported by material discovered during the search, emphasizing that such additions should stem from disclosed material. Therefore, the deletion of the addition was upheld, and the appeal was dismissed. Case-Laws Income Tax Mon, 30 Aug 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=209306