Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2006 (10) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2006 (10) TMI 144 - HC - Income Tax“Block period” means the period of 10 years preceding the previous year in which the search was conducted. The “previous year” further includes the period in which the search was conducted up to the date of the commencement of search - in block assessment total undisclosed income relating to block period ending up to date of search to be charged to tax – however in absence of evidence, undisclosed income is to be taken as shown in profit and loss account rather than as declared in return – in respect of genuineness of a gift, amount credited as capital of firm and not having been received as gift, no enquiry conducted as to source of amount and how it had been credited – amount can be added as unexplained investment
|