https://www.taxtmi.com/caselaws?id=11658 In block assessment proceedings under s.158BC following a s.132 search, the dominant issue was whether an addition for alleged undisclosed investment in a house could be sustained solely on a Departmental Valuation Officer's report when no incriminating material on that investment was found during the search. Applying the statutory scheme (unamended and amended) and CBDT circulars, the HC held that block assessment must be founded on evidence unearthed in the search, and post-search inquiry cannot substitute for the absence of search material. Relying on settled law, the HC rejected the Revenue's reliance on the valuation report and dismissed the appeal for want of any substantial question of law. en-us Mon, 14 Apr 2003 00:00:00 +0530 Thu, 01 Jan 2026 14:34:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11658 In block assessment proceedings under s.158BC following a s.132 search, the dominant issue was whether an addition for alleged undisclosed investment in a house could be sustained solely on a Departmental Valuation Officer's report when no incriminating material on that investment was found during the search. Applying the statutory scheme (unamended and amended) and CBDT circulars, the HC held that block assessment must be founded on evidence unearthed in the search, and post-search inquiry cannot substitute for the absence of search material. Relying on settled law, the HC rejected the Revenue's reliance on the valuation report and dismissed the appeal for want of any substantial question of law. Case-Laws Income Tax Mon, 14 Apr 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11658