https://www.taxtmi.com/caselaws?id=181600 In block assessment proceedings, additions for alleged undisclosed investments and income cannot be sustained where they rest mainly on vague third-party statements, documents not found in search, or material not properly confronted to the assessee. The ITAT Delhi held that seized material must be reliably linked to the assessee, and uncorroborated conjecture or references from other persons' cases are insufficient to justify additions for items such as flat investments, land, shops, film expenditure, bank deposits, and related income. The addition concerning the Cielo car was remanded for fresh factual examination because ownership, financing, and timing required further adjudication with a proper opportunity to both sides. en-us Fri, 23 Dec 2011 00:00:00 +0530 Wed, 20 Apr 2016 15:09:36 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181600 In block assessment proceedings, additions for alleged undisclosed investments and income cannot be sustained where they rest mainly on vague third-party statements, documents not found in search, or material not properly confronted to the assessee. The ITAT Delhi held that seized material must be reliably linked to the assessee, and uncorroborated conjecture or references from other persons' cases are insufficient to justify additions for items such as flat investments, land, shops, film expenditure, bank deposits, and related income. The addition concerning the Cielo car was remanded for fresh factual examination because ownership, financing, and timing required further adjudication with a proper opportunity to both sides. Case-Laws Income Tax Fri, 23 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181600