https://www.taxtmi.com/caselaws?id=250093 In block assessments under Chapter XIV-A, undisclosed income may be computed by applying the deeming principle for unexplained investments, with regular assessment methodology made applicable through Section 158BH and the special block tax framework under Section 158BA. Where the assessee does not credibly explain the source of investments giving rise to undisclosed income, the amount reasonably supported by the record may be adopted for taxation. On that basis, the higher departmental figure was treated as the proper basis for assessment, and the reduced computation was not accepted. en-us Wed, 16 Jul 2014 00:00:00 +0530 Fri, 10 Oct 2014 15:40:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=250093 In block assessments under Chapter XIV-A, undisclosed income may be computed by applying the deeming principle for unexplained investments, with regular assessment methodology made applicable through Section 158BH and the special block tax framework under Section 158BA. Where the assessee does not credibly explain the source of investments giving rise to undisclosed income, the amount reasonably supported by the record may be adopted for taxation. On that basis, the higher departmental figure was treated as the proper basis for assessment, and the reduced computation was not accepted. Case-Laws Income Tax Wed, 16 Jul 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=250093