https://www.taxtmi.com/caselaws?id=117259 Capital introduced by a newly admitted partner and existing partners was not sustainable as unexplained cash credits in the firm's hands where the partners' identity and the fact of contribution were accepted. The only dispute was whether the partners had adequate independent sources, but the firm's explanation that the funds came from its partners was sufficient. Even if the partners' personal sources were doubted, the credits could not be treated as the firm's unexplained income merely because the money was routed through partners. The first appellate relief was therefore upheld in favour of the assessee. en-us Tue, 20 Aug 2002 00:00:00 +0530 Thu, 21 Jun 2012 13:35:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=117259 Capital introduced by a newly admitted partner and existing partners was not sustainable as unexplained cash credits in the firm's hands where the partners' identity and the fact of contribution were accepted. The only dispute was whether the partners had adequate independent sources, but the firm's explanation that the funds came from its partners was sufficient. Even if the partners' personal sources were doubted, the credits could not be treated as the firm's unexplained income merely because the money was routed through partners. The first appellate relief was therefore upheld in favour of the assessee. Case-Laws Income Tax Tue, 20 Aug 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=117259