https://www.taxtmi.com/caselaws?id=60026 In block assessment, Kisan Vikas Patra and interest could not be taxed in the individuals' hands where contemporaneous records showed the investments belonged to separate HUFs; the addition was deleted. Additions based on seized books and trial balance as undisclosed capital and profit were also deleted because the papers were fabricated for bank loans and were unsupported by independent evidence. For sundry debtors, only the profit element on unrecorded sales could be brought to tax, not the full ledger balance, giving partial relief. The alleged unexplained tour expenses were deleted because the material did not establish a definite unexplained outlay. en-us Fri, 06 Jan 2006 00:00:00 +0530 Wed, 18 Jul 2012 13:05:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60026 In block assessment, Kisan Vikas Patra and interest could not be taxed in the individuals' hands where contemporaneous records showed the investments belonged to separate HUFs; the addition was deleted. Additions based on seized books and trial balance as undisclosed capital and profit were also deleted because the papers were fabricated for bank loans and were unsupported by independent evidence. For sundry debtors, only the profit element on unrecorded sales could be brought to tax, not the full ledger balance, giving partial relief. The alleged unexplained tour expenses were deleted because the material did not establish a definite unexplained outlay. Case-Laws Income Tax Fri, 06 Jan 2006 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60026