COMMNR. OF INCOME TAX, CHENNAI vs M/S. S. AJIT KUMAR THR. ITS MANAGING DIRECTOR

The Supreme Court addressed the issue of whether material obtained from a survey of a builder's premises could be utilized in the block assessment of the assessee under the Income Tax Act. The Court held that the information regarding cash payments made by the assessee, which was uncovered during the survey, is admissible for tax assessment purposes. Consequently, the Court set aside the High Court's dismissal of the Revenue's appeal, thereby reinstating the block assessment order against the assessee.