https://www.taxtmi.com/caselaws?id=247933 The court determined that the block period for income tax assessment should end on the date of requisition issuance, not receipt of materials, remanding the matter for reassessment. The incorrect assessment of undisclosed income led to a directive for reassessment within the correct block period. The inclusion of cash rewards as undisclosed income required verification from the Directorate of Revenue Intelligence. The court remanded the penalty reduction decision for reconsideration alongside the reassessment, emphasizing the importance of accurate interpretation and verification in tax assessments. en-us Fri, 23 May 2014 00:00:00 +0530 Thu, 21 Aug 2014 11:12:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=247933 The court determined that the block period for income tax assessment should end on the date of requisition issuance, not receipt of materials, remanding the matter for reassessment. The incorrect assessment of undisclosed income led to a directive for reassessment within the correct block period. The inclusion of cash rewards as undisclosed income required verification from the Directorate of Revenue Intelligence. The court remanded the penalty reduction decision for reconsideration alongside the reassessment, emphasizing the importance of accurate interpretation and verification in tax assessments. Case-Laws Income Tax Fri, 23 May 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=247933