https://www.taxtmi.com/caselaws?id=57761 Block assessment limitation is computed from the last valid panchnama drawn in continuation of a search; a later visit without search or seizure, and an unjustified prohibitory order, cannot extend the limitation period. Extension for special audit requires an application by the assessee under the prescribed condition. Mutuality applies where housing co-operative society transactions are confined to members and contributors and participators have complete identity. Project-based construction income may be recognised under the completed contract method where projects remain incomplete. Unsupported allegations of fund diversion, cash-payment disallowance, and site-allotment receipts not accruing to the society cannot constitute undisclosed income in block assessment. en-us Mon, 31 Dec 2001 00:00:00 +0530 Mon, 13 Dec 2010 13:04:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=57761 Block assessment limitation is computed from the last valid panchnama drawn in continuation of a search; a later visit without search or seizure, and an unjustified prohibitory order, cannot extend the limitation period. Extension for special audit requires an application by the assessee under the prescribed condition. Mutuality applies where housing co-operative society transactions are confined to members and contributors and participators have complete identity. Project-based construction income may be recognised under the completed contract method where projects remain incomplete. Unsupported allegations of fund diversion, cash-payment disallowance, and site-allotment receipts not accruing to the society cannot constitute undisclosed income in block assessment. Case-Laws Income Tax Mon, 31 Dec 2001 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=57761