https://www.taxtmi.com/caselaws?id=251364 The High Court ruled in favor of the appellant regarding the inclusion of items in block assessment and the assessment of a shareholder as benami. The court held that only adverse material discovered during search, not items disclosed in earlier returns, can form the basis for block assessment. Additionally, if a shareholder is deemed benami, only the real shareholder should be assessed for investments. The court did not address the remaining issues in detail, and the appeal was partly allowed with no costs awarded. en-us Tue, 17 Jun 2014 00:00:00 +0530 Thu, 19 Feb 2015 16:35:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251364 The High Court ruled in favor of the appellant regarding the inclusion of items in block assessment and the assessment of a shareholder as benami. The court held that only adverse material discovered during search, not items disclosed in earlier returns, can form the basis for block assessment. Additionally, if a shareholder is deemed benami, only the real shareholder should be assessed for investments. The court did not address the remaining issues in detail, and the appeal was partly allowed with no costs awarded. Case-Laws Income Tax Tue, 17 Jun 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251364