Dismissing the appeal of the assessee the Court held that ,estimation of undisclosed income was held to be justified . Court also held that considering the report of the Special Auditor expenses during Block Period could not be set off against undisclosed income .
Madhurapuri Chits And Finance Co. Pvt. Ltd. v. DCIT (2018) 404 ITR 222 (Ker) (HC)
S. 158BC : Block assessment – Estimation of undisclosed income was held to be justified — Expenses during Block Period could not be set off against undisclosed income