https://www.taxtmi.com/caselaws?id=183580 In block assessment under Chapter XIV-B, additions are confined to undisclosed income evidenced by incriminating material found during the search or material directly relatable to it. Post-search statements recorded only to verify books, especially when no search material is recovered and the statement is later retracted, cannot by themselves sustain an addition. An alleged excess stock addition also cannot rest on visual estimate or guesswork; the stock must be determined through reliable, empirical verification, not conjecture. On these principles, additions based on third-party statements and estimated stock were held unsustainable, and the Tribunal's deletion of the additions was upheld. en-us Mon, 27 Aug 2007 00:00:00 +0530 Tue, 12 Aug 2025 10:11:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=183580 In block assessment under Chapter XIV-B, additions are confined to undisclosed income evidenced by incriminating material found during the search or material directly relatable to it. Post-search statements recorded only to verify books, especially when no search material is recovered and the statement is later retracted, cannot by themselves sustain an addition. An alleged excess stock addition also cannot rest on visual estimate or guesswork; the stock must be determined through reliable, empirical verification, not conjecture. On these principles, additions based on third-party statements and estimated stock were held unsustainable, and the Tribunal's deletion of the additions was upheld. Case-Laws Income Tax Mon, 27 Aug 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=183580