https://www.taxtmi.com/caselaws?id=236643 Amounts already recorded in the books of account or otherwise disclosed to the Department before the search cannot be treated as undisclosed income in block assessment proceedings. On that principle, cash withdrawals, chitty transactions, interest income, and peak bank deposits already reflected in returns, balance-sheets, cash flow statements, or trust records were not assessable as undisclosed income. Marriage gift receipts were reduced on partial donor evidence, while chit fund subscriptions and an LIC survival benefit claim were sent back for fresh verification. Surcharge under the block assessment provisions was held leviable under section 113. The overall result was mixed, with relief on several additions, remand on two items, and surcharge sustained. en-us Fri, 14 Sep 2012 00:00:00 +0530 Wed, 04 Sep 2013 07:57:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=236643 Amounts already recorded in the books of account or otherwise disclosed to the Department before the search cannot be treated as undisclosed income in block assessment proceedings. On that principle, cash withdrawals, chitty transactions, interest income, and peak bank deposits already reflected in returns, balance-sheets, cash flow statements, or trust records were not assessable as undisclosed income. Marriage gift receipts were reduced on partial donor evidence, while chit fund subscriptions and an LIC survival benefit claim were sent back for fresh verification. Surcharge under the block assessment provisions was held leviable under section 113. The overall result was mixed, with relief on several additions, remand on two items, and surcharge sustained. Case-Laws Income Tax Fri, 14 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=236643