https://www.taxtmi.com/caselaws?id=14652 Chapter XIV-B applies only to undisclosed income supported by material found during search. Accepted wealth-tax disclosures of jewellery and silver articles could not be ignored and treated as unexplained investment merely because the assets were later noticed again in search proceedings, so those items fell outside block assessment. A valuation report obtained after the regular assessment, relating to bungalow construction, also could not be used to make a Chapter XIV-B addition because it was not based on search material and would impermissibly expand the limited block-assessment framework. The commentary therefore confirms that prior accepted disclosures and post-assessment valuation exercises do not justify additions as undisclosed income under block assessment. en-us Mon, 26 Jun 2000 00:00:00 +0530 Tue, 07 Oct 2025 11:59:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14652 Chapter XIV-B applies only to undisclosed income supported by material found during search. Accepted wealth-tax disclosures of jewellery and silver articles could not be ignored and treated as unexplained investment merely because the assets were later noticed again in search proceedings, so those items fell outside block assessment. A valuation report obtained after the regular assessment, relating to bungalow construction, also could not be used to make a Chapter XIV-B addition because it was not based on search material and would impermissibly expand the limited block-assessment framework. The commentary therefore confirms that prior accepted disclosures and post-assessment valuation exercises do not justify additions as undisclosed income under block assessment. Case-Laws Income Tax Mon, 26 Jun 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14652