https://www.taxtmi.com/caselaws?id=60242 In block assessment, additions require cogent search-related material establishing undisclosed income, not mere suspicion or uncorroborated diary entries. A private diary noting a possible cash transfer was insufficient where there was no proof the transfer occurred, so the addition was deleted. Advances from dealers were also not taxable as undisclosed income because they were recorded in the regular books, reflected in trade practice, and adjusted against sales, with no contrary search material. Cash found during search was explained as recent business collections supported by cash sheets and denomination slips, and the explanation was accepted, so that addition was deleted. en-us Fri, 30 Jan 2004 00:00:00 +0530 Mon, 17 Oct 2022 13:47:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=60242 In block assessment, additions require cogent search-related material establishing undisclosed income, not mere suspicion or uncorroborated diary entries. A private diary noting a possible cash transfer was insufficient where there was no proof the transfer occurred, so the addition was deleted. Advances from dealers were also not taxable as undisclosed income because they were recorded in the regular books, reflected in trade practice, and adjusted against sales, with no contrary search material. Cash found during search was explained as recent business collections supported by cash sheets and denomination slips, and the explanation was accepted, so that addition was deleted. Case-Laws Income Tax Fri, 30 Jan 2004 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=60242