https://www.taxtmi.com/caselaws?id=9979 In a Chapter XIV-B search assessment, additions cannot be sustained solely on a Departmental Valuation Officer's estimate when the search yields no incriminating material showing undisclosed income or undisclosed investment. The block assessment scheme was treated as a self-contained code, and a valuation report by itself was held insufficient to justify an addition absent search-found evidence of understatement or concealment. The High Court accepted that this position accords with settled law and found no substantial question of law arising. en-us Wed, 16 Nov 2005 00:00:00 +0530 Sat, 04 Jul 2009 18:08:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9979 In a Chapter XIV-B search assessment, additions cannot be sustained solely on a Departmental Valuation Officer's estimate when the search yields no incriminating material showing undisclosed income or undisclosed investment. The block assessment scheme was treated as a self-contained code, and a valuation report by itself was held insufficient to justify an addition absent search-found evidence of understatement or concealment. The High Court accepted that this position accords with settled law and found no substantial question of law arising. Case-Laws Income Tax Wed, 16 Nov 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9979