https://www.taxtmi.com/caselaws?id=258176 The High Court upheld the Tribunal's decision regarding the correctness of the notice issued under section 158BC of the Income Tax Act for block assessment proceedings, finding no legal infirmities. It affirmed the grant of full relief to the assessee by the Commissioner of Income Tax (Appeals) and supported the deletion of undisclosed income treated as inflated purchases by the assessing officer. The Court emphasized the lack of substantial evidence for the inflated purchases and upheld the Tribunal's deletion of this portion, dismissing the appeal due to the alignment of factual conclusions with the evidentiary framework. en-us Tue, 17 Mar 2015 00:00:00 +0530 Thu, 02 Apr 2015 05:58:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258176 The High Court upheld the Tribunal's decision regarding the correctness of the notice issued under section 158BC of the Income Tax Act for block assessment proceedings, finding no legal infirmities. It affirmed the grant of full relief to the assessee by the Commissioner of Income Tax (Appeals) and supported the deletion of undisclosed income treated as inflated purchases by the assessing officer. The Court emphasized the lack of substantial evidence for the inflated purchases and upheld the Tribunal's deletion of this portion, dismissing the appeal due to the alignment of factual conclusions with the evidentiary framework. Case-Laws Income Tax Tue, 17 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258176