Block assessment — Undisclosed income — No investigation can be allowed to be held pertaining to the Indian Development Bonds which were received from NRIs by assessee as gift and value of bonds not assessable as undisclosed income — as held by AllHC in CIT v Usha Omer — In favour of: The assessee.
No inquiry can be made to the bond holder regarding the source.
Decided on: 26 July 2011.
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