https://www.taxtmi.com/caselaws?id=215950 The Kerala High Court dismissed the appeal in a case concerning the computation of undisclosed income and rejection of additional loan claims during rectification proceedings. The court upheld the rejection of the additional loans claimed by the assessee from 3 persons due to lack of convincing evidence. Despite initial allowance by the CIT (Appeals), the Tribunal reversed the decision, emphasizing the absence of substantiated claims. The court concluded that the rejection was justified as the assessee failed to prove the debt to the 3 parties, a new claim made post-assessment completion. en-us Thu, 15 Dec 2011 00:00:00 +0530 Sat, 25 Aug 2012 06:27:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=215950 The Kerala High Court dismissed the appeal in a case concerning the computation of undisclosed income and rejection of additional loan claims during rectification proceedings. The court upheld the rejection of the additional loans claimed by the assessee from 3 persons due to lack of convincing evidence. Despite initial allowance by the CIT (Appeals), the Tribunal reversed the decision, emphasizing the absence of substantiated claims. The court concluded that the rejection was justified as the assessee failed to prove the debt to the 3 parties, a new claim made post-assessment completion. Case-Laws Income Tax Thu, 15 Dec 2011 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=215950