https://www.taxtmi.com/caselaws?id=251937 The High Court of Andhra Pradesh partially allowed two appeals challenging a Tribunal's order on block assessments for 1986-87 to 1996-97 under the Income Tax Act. The Court emphasized Section 158BB's provisions on undisclosed income determination, disallowing set-off of losses against such income. It directed verification of appellants' books for the unfiled assessment year 1996-97 to ascertain losses before the search date. The decision highlighted the self-contained nature of Chapter XIVB, permitting adjustments for losses within the block period but not subsequent periods. en-us Wed, 03 Sep 2014 00:00:00 +0530 Wed, 18 Feb 2015 18:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=251937 The High Court of Andhra Pradesh partially allowed two appeals challenging a Tribunal's order on block assessments for 1986-87 to 1996-97 under the Income Tax Act. The Court emphasized Section 158BB's provisions on undisclosed income determination, disallowing set-off of losses against such income. It directed verification of appellants' books for the unfiled assessment year 1996-97 to ascertain losses before the search date. The decision highlighted the self-contained nature of Chapter XIVB, permitting adjustments for losses within the block period but not subsequent periods. Case-Laws Income Tax Wed, 03 Sep 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=251937