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2002 (8) TMI 38 - RAJASTHAN HIGH COURT - Income Tax
Head Note / Extract:
Search And Seizure - Block Assessment - Cash Credits - valuation of the constructed building - Whether the learned Income-tax Appellate Tribunal was right in its wisdom to apply the Rajasthan PWD rates for working out the cost of construction of the said property for income-tax purpose, instead of CPWD rates? - Whether the learned Income-tax Appellate Tribunal was right in deleting the addition of Rs. 41,400 by holding that when entries find place in the regular cash book, then no addition can be made in the block assessment until there is evidence to the contrary? - Whether the addition on the basis of examination of the regular books of account seized during the course of search is out of the purview of the block assessments?" - the appeal is partly allowed