https://www.taxtmi.com/caselaws?id=325145 HC upheld the block assessment treating cash payments for purchase of property as undisclosed income under Sections 158B(b) and 158BB. It relied on the assessee's clear post-search admission that Rs. 60 lakhs were paid out of undisclosed stock and found no evidence that this statement was involuntary. The AO's rejection of explanations regarding bank withdrawals, alleged cash sales, and cash contributions from the spouse was affirmed, given absence of corroborative evidence, inconsistencies in timing of withdrawals, and low returned incomes during the block period. The unexplained cash payments, including Rs. 14 lakhs admittedly paid, were rightly taxed as undisclosed income. Appeal was decided against the assessee. en-us Thu, 10 Mar 2016 00:00:00 +0530 Mon, 03 Aug 2026 15:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=325145 HC upheld the block assessment treating cash payments for purchase of property as undisclosed income under Sections 158B(b) and 158BB. It relied on the assessee's clear post-search admission that Rs. 60 lakhs were paid out of undisclosed stock and found no evidence that this statement was involuntary. The AO's rejection of explanations regarding bank withdrawals, alleged cash sales, and cash contributions from the spouse was affirmed, given absence of corroborative evidence, inconsistencies in timing of withdrawals, and low returned incomes during the block period. The unexplained cash payments, including Rs. 14 lakhs admittedly paid, were rightly taxed as undisclosed income. Appeal was decided against the assessee. Case-Laws Income Tax Thu, 10 Mar 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=325145