https://www.taxtmi.com/caselaws?id=180629 The Tribunal allowed the appeal, permitting the set-off of losses incurred during the block period against the undisclosed income computed for other previous years within the same period. The Tribunal emphasized that the block period should be treated as a unit, allowing for the aggregation of income and losses and enabling the adjustment of losses against income within the block period. As a result, the losses for specific assessment years were directed to be set off against the undisclosed income, in accordance with the provisions of the Income-tax Act. Other grounds of appeal were not addressed due to lack of argument. en-us Mon, 29 Sep 1997 00:00:00 +0530 Wed, 30 Mar 2016 18:20:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180629 The Tribunal allowed the appeal, permitting the set-off of losses incurred during the block period against the undisclosed income computed for other previous years within the same period. The Tribunal emphasized that the block period should be treated as a unit, allowing for the aggregation of income and losses and enabling the adjustment of losses against income within the block period. As a result, the losses for specific assessment years were directed to be set off against the undisclosed income, in accordance with the provisions of the Income-tax Act. Other grounds of appeal were not addressed due to lack of argument. Case-Laws Income Tax Mon, 29 Sep 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180629