https://www.taxtmi.com/caselaws?id=238154 In block assessment proceedings, undisclosed income and related deductions must be computed on the basis of search material and evidence relatable to the search. A valuation report cannot expand the scope of the assessed undisclosed income or support a higher deduction for alleged unaccounted construction where the seized documents show a lower amount; the construction claim was therefore confined to the figure supported by the seized material. Cash loans traced to unaccounted receipts were also not restricted to a lower peak amount where telescoping against undisclosed construction income had already been allowed, and only separately taxable interest income remained for addition. en-us Wed, 05 Jun 2013 00:00:00 +0530 Thu, 17 Oct 2013 09:57:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=238154 In block assessment proceedings, undisclosed income and related deductions must be computed on the basis of search material and evidence relatable to the search. A valuation report cannot expand the scope of the assessed undisclosed income or support a higher deduction for alleged unaccounted construction where the seized documents show a lower amount; the construction claim was therefore confined to the figure supported by the seized material. Cash loans traced to unaccounted receipts were also not restricted to a lower peak amount where telescoping against undisclosed construction income had already been allowed, and only separately taxable interest income remained for addition. Case-Laws Income Tax Wed, 05 Jun 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=238154