https://www.taxtmi.com/caselaws?id=244524 In block assessment proceedings under the Income-tax Act, an addition cannot be sustained solely on a District Valuation Officer's report unless search material shows undisclosed income. Where the search yields no incriminating document or evidence of suppressed or unrecorded construction expenditure, a mere valuation-based estimate of higher cost does not qualify as search material for taxing the difference as undisclosed income for the block period. On that basis, the addition was held unsustainable and the Revenue's challenge failed. en-us Thu, 30 Jan 2014 00:00:00 +0530 Fri, 06 Jun 2014 10:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=244524 In block assessment proceedings under the Income-tax Act, an addition cannot be sustained solely on a District Valuation Officer's report unless search material shows undisclosed income. Where the search yields no incriminating document or evidence of suppressed or unrecorded construction expenditure, a mere valuation-based estimate of higher cost does not qualify as search material for taxing the difference as undisclosed income for the block period. On that basis, the addition was held unsustainable and the Revenue's challenge failed. Case-Laws Income Tax Thu, 30 Jan 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=244524