https://www.taxtmi.com/caselaws?id=460671 The HC partially allowed the appeal in favor of the assessee, deleting several additions made by the Assessing Officer. The Court upheld the applicability of Section 143(3) to block assessments and emphasized that assessments of undisclosed income must be evidence-based. Additions for cash shortages, jewellery, unexplained expenditures, and loans were deleted due to lack of evidence or satisfactory explanations. The Court affirmed that income from sales outside the books should not be added if already included in declared excess stock, and entries in regular books cannot be treated as undisclosed income. en-us Wed, 30 Oct 2002 00:00:00 +0530 Mon, 10 Feb 2025 15:18:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460671 The HC partially allowed the appeal in favor of the assessee, deleting several additions made by the Assessing Officer. The Court upheld the applicability of Section 143(3) to block assessments and emphasized that assessments of undisclosed income must be evidence-based. Additions for cash shortages, jewellery, unexplained expenditures, and loans were deleted due to lack of evidence or satisfactory explanations. The Court affirmed that income from sales outside the books should not be added if already included in declared excess stock, and entries in regular books cannot be treated as undisclosed income. Case-Laws Income Tax Wed, 30 Oct 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460671