https://www.taxtmi.com/caselaws?id=337802 The court upheld the validity of the search and block assessment under Section 132 of the Income Tax Act, confirming the estimate of 'undisclosed income' for the block period. It allowed certain claims regarding specific transactions but upheld additions where the source of funds was unexplained. The court dismissed the Revenue's appeal against the deletion of additions, finding the Assessing Officer's conclusions lacked evidence. Overall, the court upheld the Tribunal's decisions on all issues, based on factual assessments without raising any substantial question of law. en-us Fri, 06 Jan 2017 00:00:00 +0530 Sat, 25 Mar 2017 13:46:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337802 The court upheld the validity of the search and block assessment under Section 132 of the Income Tax Act, confirming the estimate of 'undisclosed income' for the block period. It allowed certain claims regarding specific transactions but upheld additions where the source of funds was unexplained. The court dismissed the Revenue's appeal against the deletion of additions, finding the Assessing Officer's conclusions lacked evidence. Overall, the court upheld the Tribunal's decisions on all issues, based on factual assessments without raising any substantial question of law. Case-Laws Income Tax Fri, 06 Jan 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337802