https://www.taxtmi.com/caselaws?id=251328 In block assessment, income can be taxed as undisclosed only where the amount was not disclosed in a return filed before search; oral or written statements to tax authorities do not substitute for such disclosure. On that basis, the consideration of Rs. 2.80 crores was sustained as undisclosed income because the related surrender agreement was incriminating and the amount was not offered to tax before search. By contrast, amounts not actually received cannot be brought to tax on accrual where the assessee follows the cash system, so the additions of Rs. 2.90 crores and related interest were deleted. en-us Thu, 28 Aug 2014 00:00:00 +0530 Thu, 11 Sep 2014 08:04:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251328 In block assessment, income can be taxed as undisclosed only where the amount was not disclosed in a return filed before search; oral or written statements to tax authorities do not substitute for such disclosure. On that basis, the consideration of Rs. 2.80 crores was sustained as undisclosed income because the related surrender agreement was incriminating and the amount was not offered to tax before search. By contrast, amounts not actually received cannot be brought to tax on accrual where the assessee follows the cash system, so the additions of Rs. 2.90 crores and related interest were deleted. Case-Laws Income Tax Thu, 28 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251328