https://www.taxtmi.com/caselaws?id=70589 The Appellate Tribunal allowed the appeal, deleting the addition of unexplained investment in the assessment for the year 1966-67. The Tribunal emphasized the importance of considering circumstantial evidence to establish the accrual of interest income, highlighting that it is reasonable to infer interest income from legitimate activities when there is a possibility of such. The Tribunal criticized the tax authorities' insistence on direct evidence of money-lending activities after a significant period and stressed the need to assess the satisfactoriness of explanations regarding the source of funds. en-us Mon, 23 Aug 1982 00:00:00 +0530 Mon, 18 Apr 2011 10:54:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=70589 The Appellate Tribunal allowed the appeal, deleting the addition of unexplained investment in the assessment for the year 1966-67. The Tribunal emphasized the importance of considering circumstantial evidence to establish the accrual of interest income, highlighting that it is reasonable to infer interest income from legitimate activities when there is a possibility of such. The Tribunal criticized the tax authorities' insistence on direct evidence of money-lending activities after a significant period and stressed the need to assess the satisfactoriness of explanations regarding the source of funds. Case-Laws Income Tax Mon, 23 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=70589