https://www.taxtmi.com/caselaws?id=461322 ITAT Allahabad allowed the assessee's appeal partly in a revision case under section 263 regarding computation of undisclosed income for block period assessment. The tribunal held that income proportionate to advance tax paid (Rs. 5,71,000 deposited by 15.03.2002) should be treated as disclosed income and excluded from block assessment additions under section 158BB. The CIT's direction to include entire income in block assessment was set aside. The AO was directed to recompute disclosed income based on advance tax paid and modify the assessment order accordingly, reducing undisclosed income from block assessment computation. en-us Mon, 25 Aug 2014 00:00:00 +0530 Fri, 28 Mar 2025 19:00:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=461322 ITAT Allahabad allowed the assessee's appeal partly in a revision case under section 263 regarding computation of undisclosed income for block period assessment. The tribunal held that income proportionate to advance tax paid (Rs. 5,71,000 deposited by 15.03.2002) should be treated as disclosed income and excluded from block assessment additions under section 158BB. The CIT's direction to include entire income in block assessment was set aside. The AO was directed to recompute disclosed income based on advance tax paid and modify the assessment order accordingly, reducing undisclosed income from block assessment computation. Case-Laws Income Tax Mon, 25 Aug 2014 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=461322