No Scope for Extrapolate and Estimate Undisclosed Income for Block Assessment Proceedings: ITAT [Read Order]

Undisclosed Income - Block Assessment Proceedings - ITAT - Taxscan

The Chennai bench of Income Tax Appellate Tribunal has held that no scope for extrapolate and estimate undisclosed income for block assessment proceedings. During the course of assessment proceedings of assessee Mr. A. Sivashankar, document in the form of sale agreement with Mr. M. A. Salim was found and seized by AO, as per which,…

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