https://www.taxtmi.com/caselaws?id=177882 The appeal was decided in favor of the assessee. The majority opinion held that the assessment under section 158BC was unjustified, as it relied on materials already disclosed or obtained outside the search under section 132. The inclusion of the depreciation allowance in the undisclosed income was deemed unwarranted, as the evidence did not support such inclusion. en-us Tue, 30 Nov 2004 00:00:00 +0530 Thu, 06 Jun 2024 19:48:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177882 The appeal was decided in favor of the assessee. The majority opinion held that the assessment under section 158BC was unjustified, as it relied on materials already disclosed or obtained outside the search under section 132. The inclusion of the depreciation allowance in the undisclosed income was deemed unwarranted, as the evidence did not support such inclusion. Case-Laws Income Tax Tue, 30 Nov 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177882