https://www.taxtmi.com/caselaws?id=175289 The High Court upheld the Tribunal's decision in a case involving the interpretation of Section 158BC of the Income Tax Act, 1961. The issue revolved around the inclusion of credit balances of sundry creditors in block assessment proceedings following a search on the taxpayer. The Court ruled that these amounts, already disclosed in the regular return, could not be considered undisclosed income discovered during the search. Consequently, the appeal by the Revenue was dismissed as it did not raise any substantial question of law. en-us Mon, 04 Jan 2010 00:00:00 +0530 Tue, 17 Nov 2015 16:57:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=175289 The High Court upheld the Tribunal's decision in a case involving the interpretation of Section 158BC of the Income Tax Act, 1961. The issue revolved around the inclusion of credit balances of sundry creditors in block assessment proceedings following a search on the taxpayer. The Court ruled that these amounts, already disclosed in the regular return, could not be considered undisclosed income discovered during the search. Consequently, the appeal by the Revenue was dismissed as it did not raise any substantial question of law. Case-Laws Income Tax Mon, 04 Jan 2010 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=175289