https://www.taxtmi.com/caselaws?id=271917 Duly served notice under section 158BC(c) and a fresh section 143(2) notice issued after filing of the block return were treated as sufficient, so the assessment was not vitiated on procedural grounds. Repeated land purchase and sale activity, together with seized material and statements, justified treatment of the unrecorded receipts as business income and undisclosed income, while unsupported or duplicative additions were deleted on item-wise scrutiny. Surcharge under section 113 was not leviable because the amendment was held prospective. Cash loans, advances, pledged ornaments and peak credit additions were sustained only where the evidence supported unexplained income or investment, resulting in partial relief. en-us Fri, 15 Jan 2016 00:00:00 +0530 Mon, 22 Feb 2016 09:48:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=271917 Duly served notice under section 158BC(c) and a fresh section 143(2) notice issued after filing of the block return were treated as sufficient, so the assessment was not vitiated on procedural grounds. Repeated land purchase and sale activity, together with seized material and statements, justified treatment of the unrecorded receipts as business income and undisclosed income, while unsupported or duplicative additions were deleted on item-wise scrutiny. Surcharge under section 113 was not leviable because the amendment was held prospective. Cash loans, advances, pledged ornaments and peak credit additions were sustained only where the evidence supported unexplained income or investment, resulting in partial relief. Case-Laws Income Tax Fri, 15 Jan 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=271917