https://www.taxtmi.com/caselaws?id=59338 In block assessment proceedings, an addition towards undisclosed income cannot rest on conjecture or an arbitrary estimate of higher sale rates for flats and shops where the search yielded no incriminating material showing on-money or understatement of consideration. The seized agreements reflected different rates, but the variation was explained by location, payment terms and other commercial factors, and the purchasers confirmed that no amount over the agreement price was paid. On those facts, the estimated addition was held unsustainable and deleted. en-us Tue, 10 Aug 1999 00:00:00 +0530 Tue, 28 Dec 2010 19:02:41 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=59338 In block assessment proceedings, an addition towards undisclosed income cannot rest on conjecture or an arbitrary estimate of higher sale rates for flats and shops where the search yielded no incriminating material showing on-money or understatement of consideration. The seized agreements reflected different rates, but the variation was explained by location, payment terms and other commercial factors, and the purchasers confirmed that no amount over the agreement price was paid. On those facts, the estimated addition was held unsustainable and deleted. Case-Laws Income Tax Tue, 10 Aug 1999 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=59338