https://www.taxtmi.com/highlights?id=87240 HC allowed the assessee's appeal, finding the tax authority's assessment invalid. The court ruled that a statement recorded during a search under Section 132(4) cannot be the sole basis for income addition in block assessment. Section 158BC mandates that undisclosed income additions must be supported by incriminating materials discovered during the search. Furthermore, the court held that surcharge under Section 113 applies only to searches conducted after 01.06.2002, following precedent in Vatika Township case, thus deciding in favor of the assessee. en-us Tue, 08 Apr 2025 08:29:01 +0530 Tue, 08 Apr 2025 08:29:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=87240 HC allowed the assessee's appeal, finding the tax authority's assessment invalid. The court ruled that a statement recorded during a search under Section 132(4) cannot be the sole basis for income addition in block assessment. Section 158BC mandates that undisclosed income additions must be supported by incriminating materials discovered during the search. Furthermore, the court held that surcharge under Section 113 applies only to searches conducted after 01.06.2002, following precedent in Vatika Township case, thus deciding in favor of the assessee. Highlights Income Tax Tue, 08 Apr 2025 08:29:01 +0530 https://www.taxtmi.com/highlights?id=87240