https://www.taxtmi.com/caselaws?id=216356 Contemporaneous search statements that were mutually corroborative and not convincingly retracted were treated as reliable evidence to sustain additions for unexplained investment in KG Farms and Jyoti Farms, and the related brokerage addition followed the same factual foundation. By contrast, alleged capital gains on the Jaipur Highway land were not taxed because the transfer had not materialised in law, title was not conveyed, and the Revenue produced no material to displace the assessee's explanation. The text also records that a block assessment under Section 158BD could not stand where the required recorded satisfaction that undisclosed income belonged to another person was absent, making the jurisdictional defect fatal. en-us Fri, 31 Aug 2012 00:00:00 +0530 Thu, 06 Sep 2012 18:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216356 Contemporaneous search statements that were mutually corroborative and not convincingly retracted were treated as reliable evidence to sustain additions for unexplained investment in KG Farms and Jyoti Farms, and the related brokerage addition followed the same factual foundation. By contrast, alleged capital gains on the Jaipur Highway land were not taxed because the transfer had not materialised in law, title was not conveyed, and the Revenue produced no material to displace the assessee's explanation. The text also records that a block assessment under Section 158BD could not stand where the required recorded satisfaction that undisclosed income belonged to another person was absent, making the jurisdictional defect fatal. Case-Laws Income Tax Fri, 31 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216356