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AO could make additions only on aspect which had direct correlation to materials detected in search; SLP dismissed

November 8, 2019[2019] 110 436 (SC)/[2019] 267 Taxman 185 (SC)

INCOME TAX: Where High Court took a view that Assessing Officer while carrying out block assessment was definitely entitled to proceed on best of judgment and make estimations for block period, however, such estimation had to be made only on aspects which had a direct correlation to materials, transactions and aspects detected in search proceedings, SLP filed against order of High Court was to be dismissed
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