https://www.taxtmi.com/caselaws?id=329932 Block assessment under Chapter XIVB is confined to seized material or information directly relatable to the search, so additions for suppressed sales and unexplained cash credit cannot rest on presumption alone. Where no seized evidence showed receipt of sales consideration over and above the books, and a section 132(4) statement did not specifically implicate the assessee, the additions lacked the required search nexus. Regular assessment could not be substituted through block assessment, and the additions were deleted. en-us Thu, 07 Jul 2016 00:00:00 +0530 Wed, 13 Jul 2016 12:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=329932 Block assessment under Chapter XIVB is confined to seized material or information directly relatable to the search, so additions for suppressed sales and unexplained cash credit cannot rest on presumption alone. Where no seized evidence showed receipt of sales consideration over and above the books, and a section 132(4) statement did not specifically implicate the assessee, the additions lacked the required search nexus. Regular assessment could not be substituted through block assessment, and the additions were deleted. Case-Laws Income Tax Thu, 07 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=329932