https://www.taxtmi.com/caselaws?id=382392 In block assessment under Chapter XIV-B, undisclosed income must be based on evidence found in search or material directly relatable to that evidence; a valuation report alone is insufficient where no incriminating material is recovered. The court also held that the assessee could raise the legal contention that the addition lacked search-based support, because it went to the validity of the block assessment. Applying these principles, the addition for alleged undisclosed investment in house construction was deleted, as the valuation difference was only marginal and not supported by search material. en-us Tue, 04 Jun 2019 00:00:00 +0530 Tue, 23 Jul 2019 16:10:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=382392 In block assessment under Chapter XIV-B, undisclosed income must be based on evidence found in search or material directly relatable to that evidence; a valuation report alone is insufficient where no incriminating material is recovered. The court also held that the assessee could raise the legal contention that the addition lacked search-based support, because it went to the validity of the block assessment. Applying these principles, the addition for alleged undisclosed investment in house construction was deleted, as the valuation difference was only marginal and not supported by search material. Case-Laws Income Tax Tue, 04 Jun 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=382392