https://www.taxtmi.com/caselaws?id=254904 Block assessment under Chapter XIVB is confined to undisclosed income revealed by search material and linked evidence; income already recorded in the assessee's books, returns or accepted regular assessment cannot be brought to block assessment. Section 158BB requires computation to rest on material found as a result of search or requisition, not on information already disclosed in the ordinary course. As the disputed purchase was already reflected in the assessee's books and returns, and no search material showed undisclosed income, the foundation for block assessment was absent. The proceedings were therefore not legally sustainable and the assessee succeeded. en-us Tue, 11 Nov 2014 00:00:00 +0530 Fri, 08 May 2015 15:55:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=254904 Block assessment under Chapter XIVB is confined to undisclosed income revealed by search material and linked evidence; income already recorded in the assessee's books, returns or accepted regular assessment cannot be brought to block assessment. Section 158BB requires computation to rest on material found as a result of search or requisition, not on information already disclosed in the ordinary course. As the disputed purchase was already reflected in the assessee's books and returns, and no search material showed undisclosed income, the foundation for block assessment was absent. The proceedings were therefore not legally sustainable and the assessee succeeded. Case-Laws Income Tax Tue, 11 Nov 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=254904