https://www.taxtmi.com/caselaws?id=13594 Where cash was first recovered from third parties but the assessee later admitted ownership in a section 132(4) statement, the amount could be treated as seized from the assessee for block assessment under section 158BC. The sequence of search, statement and panchanama supported that treatment, so the assessment was not invalid merely because the cash was initially found with others. Once the cash was properly regarded as seized from the assessee, the contention that section 158BD alone could apply failed, and the block assessment was upheld. en-us Thu, 05 Apr 2007 00:00:00 +0530 Sat, 30 May 2009 13:09:09 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=13594 Where cash was first recovered from third parties but the assessee later admitted ownership in a section 132(4) statement, the amount could be treated as seized from the assessee for block assessment under section 158BC. The sequence of search, statement and panchanama supported that treatment, so the assessment was not invalid merely because the cash was initially found with others. Once the cash was properly regarded as seized from the assessee, the contention that section 158BD alone could apply failed, and the block assessment was upheld. Case-Laws Income Tax Thu, 05 Apr 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=13594