https://www.taxtmi.com/caselaws?id=383096 In block assessment, additions must rest on incriminating material found in search or requisition and cannot be sustained on assumptions or uncorroborated loose material. Bank deposits reflected in cheque books seized from the assessee's premises were not treated as undisclosed income because the assessee showed that the books belonged to identifiable clients and the revenue did not rebut the documentary evidence. A diary page seized from a third party's premises could not be used against the assessee without corroboration. Share capital/share application money was also deleted because identity, genuineness and creditworthiness were supported by records. The disallowance for alleged personal use of telephone and car expenses was likewise deleted. en-us Fri, 17 May 2019 00:00:00 +0530 Tue, 16 Jul 2019 10:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=383096 In block assessment, additions must rest on incriminating material found in search or requisition and cannot be sustained on assumptions or uncorroborated loose material. Bank deposits reflected in cheque books seized from the assessee's premises were not treated as undisclosed income because the assessee showed that the books belonged to identifiable clients and the revenue did not rebut the documentary evidence. A diary page seized from a third party's premises could not be used against the assessee without corroboration. Share capital/share application money was also deleted because identity, genuineness and creditworthiness were supported by records. The disallowance for alleged personal use of telephone and car expenses was likewise deleted. Case-Laws Income Tax Fri, 17 May 2019 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=383096