https://www.taxtmi.com/caselaws?id=260144 Block assessment under Chapter XIV-B must rest on seized material, and assets or liabilities already disclosed or otherwise supported by evidence cannot be treated as undisclosed income merely because regular reassessment was not pursued. Investments in immovable properties declared under a voluntary disclosure scheme could not be brought to block assessment; depreciation remained allowable where vehicles were taken at cost; stock-in-trade could not be revalued above the assessee's cost in the absence of contrary material; jewellery and silver articles attributed to family members or earlier disclosed were not addable; sundry creditors supported by seized records were deductible; and an estimated addition for insufficient drawings, made without seized evidence, was unsustainable. en-us Fri, 23 Jan 2015 00:00:00 +0530 Wed, 03 Jun 2015 06:10:31 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=260144 Block assessment under Chapter XIV-B must rest on seized material, and assets or liabilities already disclosed or otherwise supported by evidence cannot be treated as undisclosed income merely because regular reassessment was not pursued. Investments in immovable properties declared under a voluntary disclosure scheme could not be brought to block assessment; depreciation remained allowable where vehicles were taken at cost; stock-in-trade could not be revalued above the assessee's cost in the absence of contrary material; jewellery and silver articles attributed to family members or earlier disclosed were not addable; sundry creditors supported by seized records were deductible; and an estimated addition for insufficient drawings, made without seized evidence, was unsustainable. Case-Laws Income Tax Fri, 23 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=260144