https://www.taxtmi.com/caselaws?id=259555 The court upheld the validity of the block assessment based on the statement recorded under section 132(4) of the Income-tax Act, supported by seized documents. The appellant's argument that the assessment solely relying on the statement was unlawful was rejected. The court emphasized that while the statement is crucial, without other reliable material, the assessment cannot stand. The appellant's failure to provide alternative explanations for the undisclosed income items mentioned in the statement led to the dismissal of the appeal, with the court finding no reason to interfere with the Tribunal's decision. en-us Tue, 28 Oct 2014 00:00:00 +0530 Tue, 09 Jun 2026 16:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259555 The court upheld the validity of the block assessment based on the statement recorded under section 132(4) of the Income-tax Act, supported by seized documents. The appellant's argument that the assessment solely relying on the statement was unlawful was rejected. The court emphasized that while the statement is crucial, without other reliable material, the assessment cannot stand. The appellant's failure to provide alternative explanations for the undisclosed income items mentioned in the statement led to the dismissal of the appeal, with the court finding no reason to interfere with the Tribunal's decision. Case-Laws Income Tax Tue, 28 Oct 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259555