https://www.taxtmi.com/caselaws?id=67373 Cash credits in partners' accounts were deleted because the assessee gave plausible explanations, including withdrawals from the post office and accumulation of bank funds from past savings, and the revenue authorities failed to make proper further inquiry before sustaining the additions. The estimate of business income at Rs. 5,000 was upheld because no effective challenge or supporting material was produced to dislodge it. The commentary therefore reflects partial relief to the assessee, with deletion of the cash-credit additions but confirmation of the income estimate. en-us Thu, 01 Mar 1984 00:00:00 +0530 Thu, 10 Mar 2011 12:36:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67373 Cash credits in partners' accounts were deleted because the assessee gave plausible explanations, including withdrawals from the post office and accumulation of bank funds from past savings, and the revenue authorities failed to make proper further inquiry before sustaining the additions. The estimate of business income at Rs. 5,000 was upheld because no effective challenge or supporting material was produced to dislodge it. The commentary therefore reflects partial relief to the assessee, with deletion of the cash-credit additions but confirmation of the income estimate. Case-Laws Income Tax Thu, 01 Mar 1984 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67373