https://www.taxtmi.com/caselaws?id=57247 The Tribunal dismissed the Department's appeal against the CIT(A)'s decision for the block period, 1st April 1988 to 8th Dec 1998. The Tribunal upheld the deletion of Rs. 7,86,400 for unexplained capital and Rs. 12,29,475 for unexplained jewelry investment, emphasizing the importance of actual findings during search for determining undisclosed income in block assessments. The Tribunal criticized the AO's reliance on presumptions rather than actual discoveries during the search, deeming it arbitrary and legally unsound. en-us Mon, 30 Jun 2003 00:00:00 +0530 Thu, 09 Dec 2010 11:18:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57247 The Tribunal dismissed the Department's appeal against the CIT(A)'s decision for the block period, 1st April 1988 to 8th Dec 1998. The Tribunal upheld the deletion of Rs. 7,86,400 for unexplained capital and Rs. 12,29,475 for unexplained jewelry investment, emphasizing the importance of actual findings during search for determining undisclosed income in block assessments. The Tribunal criticized the AO's reliance on presumptions rather than actual discoveries during the search, deeming it arbitrary and legally unsound. Case-Laws Income Tax Mon, 30 Jun 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57247