https://www.taxtmi.com/caselaws?id=152165 An assessee who receives money during the accounting year must first explain its source and show that it is not income; that burden applies equally in reassessment and original assessment. In high denomination note encashment matters, the initial burden may be discharged if a genuine cash balance is proved and surrounding circumstances reasonably support the explanation. Where the explanation is unsupported by books, a proper cash account, or other material showing how the cash was maintained, the department may reject it and treat the receipt as income from an undisclosed source. The text states that the assessee's explanation for the encashed amount was not satisfactorily established. en-us Wed, 27 Mar 1963 00:00:00 +0530 Wed, 07 Aug 2013 12:36:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=152165 An assessee who receives money during the accounting year must first explain its source and show that it is not income; that burden applies equally in reassessment and original assessment. In high denomination note encashment matters, the initial burden may be discharged if a genuine cash balance is proved and surrounding circumstances reasonably support the explanation. Where the explanation is unsupported by books, a proper cash account, or other material showing how the cash was maintained, the department may reject it and treat the receipt as income from an undisclosed source. The text states that the assessee's explanation for the encashed amount was not satisfactorily established. Case-Laws Income Tax Wed, 27 Mar 1963 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=152165