https://www.taxtmi.com/caselaws?id=57336 Block assessment may cover only undisclosed income falling within the relevant block period; fixed deposits acquired before that period cannot be taxed merely because they were included in the block return. An admission in a return does not create tax liability contrary to statute. Available withdrawals, interest receipts, surrounding financial material and prior additions may establish the source of an investment or bank deposit under the principle of telescoping. Where this evidence credibly explains fixed-deposit investments and cash deposits, unexplained-income additions cannot be sustained. 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 may cover only undisclosed income falling within the relevant block period; fixed deposits acquired before that period cannot be taxed merely because they were included in the block return. An admission in a return does not create tax liability contrary to statute. Available withdrawals, interest receipts, surrounding financial material and prior additions may establish the source of an investment or bank deposit under the principle of telescoping. Where this evidence credibly explains fixed-deposit investments and cash deposits, unexplained-income additions cannot be sustained. Case-Laws Income Tax Wed, 14 Sep 2005 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57336