https://www.taxtmi.com/caselaws?id=57336 Block assessment under Chapter XIV-B can tax only income that qualifies as undisclosed income within the block period, so an FDR acquired before that period cannot be brought to tax merely because it was shown in the block return. The note also applies telescoping and source-of-funds principles: where withdrawals, interest receipts, or other surrounding material credibly explain an FDR investment or cash deposit, the related addition is not sustainable. The discussion further emphasises that an admission in a return does not override the statute or validate an addition unsupported by the relevant period and evidence. en-us Wed, 14 Sep 2005 00:00:00 +0530 Fri, 06 Jul 2012 10:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57336 Block assessment under Chapter XIV-B can tax only income that qualifies as undisclosed income within the block period, so an FDR acquired before that period cannot be brought to tax merely because it was shown in the block return. The note also applies telescoping and source-of-funds principles: where withdrawals, interest receipts, or other surrounding material credibly explain an FDR investment or cash deposit, the related addition is not sustainable. The discussion further emphasises that an admission in a return does not override the statute or validate an addition unsupported by the relevant period and evidence. Case-Laws Income Tax Wed, 14 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57336