Section 158BB, read with section 68, of the Income-tax Act, 1961

IT: Where all items of cash credits alleged against assessees were reflected in books of account, an exercise under section 158BB by Assessing Officer was not justified
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[2015] 55 taxmann.com 20 (Andhra Pradesh)
HIGH COURT OF ANDHRA PRADESH
Commissioner of Income-tax, Ap-I, Hyderabad
v.
Tharmandal Builders (P.) Ltd.*
L. NARASIMHA REDDY AND CHALLA KODANDA RAM, JJ.
ITTA. NO. 106 OF 2001†
JULY  1, 2014
Section 158BB, read with section 68, of the Income-tax Act, 1961 - Block assessments in case of search and seizure - Computation of undisclosed income (Undisclosed income) - Whether, where all items of cash credits alleged against assessees were reflected in books of account, block assessment under section 158BB by Assessing Officer was not justified - Held, yes [Para 5] [In favour of assessee]