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2010 (1) TMI 214 - MADRAS HIGH COURTSearch and Seizure- A search was conducted in the business premises of the assessee on January 22, 2003. The assessee filed its return for the assessment year 2002-03 only on March 12, 2004. After giving credit for tax deducted at source, advance tax and self assessment tax the Assessing officer treated the balance as undisclosed income. The Commissioner (Appeals) held that the amount could not be treated as undisclosed income and this was upheld by the Tribunal. Held that- amount shown in the return could not be treated as undisclosed income for the purpose of block assessment.
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