https://www.taxtmi.com/caselaws?id=184162 The Tribunal deemed the proceedings initiated under section 158BD of the IT Act void ab initio for M/s Pransukhlal & Sons Jewellers due to lack of material indicating undisclosed income, resulting in the cancellation of the block assessment. However, for M/s Pransukhlal Brothers, the proceedings were validated based on a diary found during the search. In the block assessment proceedings, additions were limited to Rs. 1,49,842 for M/s Pransukhlal Jewellers and Rs. 13,72,257 for M/s Pransukhlal Brothers. The appeal for M/s Pransukhlal & Sons was allowed, while those for M/s Pransukhlal Jewellers and M/s Pransukhlal Brothers were partly allowed. en-us Fri, 11 Jan 2008 00:00:00 +0530 Thu, 30 Jun 2016 18:37:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=184162 The Tribunal deemed the proceedings initiated under section 158BD of the IT Act void ab initio for M/s Pransukhlal & Sons Jewellers due to lack of material indicating undisclosed income, resulting in the cancellation of the block assessment. However, for M/s Pransukhlal Brothers, the proceedings were validated based on a diary found during the search. In the block assessment proceedings, additions were limited to Rs. 1,49,842 for M/s Pransukhlal Jewellers and Rs. 13,72,257 for M/s Pransukhlal Brothers. The appeal for M/s Pransukhlal & Sons was allowed, while those for M/s Pransukhlal Jewellers and M/s Pransukhlal Brothers were partly allowed. Case-Laws Income Tax Fri, 11 Jan 2008 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=184162