Block assessment has to be based on evidences and not best judgment

Gist of Decision: Under s. 158BB, the procedure for computing the undisclosed income of the block period has been given. It provides that the undisclosed income of the block period shall be the aggregate of the total income of the previous years falling within the block period computed, in accordance with the provisions of this Act, on the basis of evidence found as the result of search or requisition of books of account or other documents and such other materials or information as are available with the AO and relatable to such evidence with certain other conditions. The emphasis has been giv...