https://www.taxtmi.com/caselaws?id=339773 The High Court held that the Assessing Officer (AO) did not have jurisdiction to make additions under Section 158BC of the Income Tax Act, 1961, as they were not supported by materials found during the search. The court upheld the ITAT's decision to delete the additions related to loans, foreign trips, professional receipts, household expenses, unexplained gifts, suppressed rent, and undisclosed sources. The Revenue's appeals were dismissed, emphasizing that block assessments are confined to evidence discovered during the search and cannot be substitutes for regular assessments. en-us Fri, 03 Mar 2017 00:00:00 +0530 Sat, 01 Apr 2017 14:30:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=339773 The High Court held that the Assessing Officer (AO) did not have jurisdiction to make additions under Section 158BC of the Income Tax Act, 1961, as they were not supported by materials found during the search. The court upheld the ITAT's decision to delete the additions related to loans, foreign trips, professional receipts, household expenses, unexplained gifts, suppressed rent, and undisclosed sources. The Revenue's appeals were dismissed, emphasizing that block assessments are confined to evidence discovered during the search and cannot be substitutes for regular assessments. Case-Laws Income Tax Fri, 03 Mar 2017 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=339773