https://www.taxtmi.com/caselaws?id=216699 An opening cash balance carried forward from the immediately preceding year cannot be treated as income of the current year merely because its historical source is not explained, and a further addition on that basis is not justified. Additions relating to sundry creditors and disallowance under section 40A(3) were examined against prior labour-charge disallowances, with duplication avoided where the same factual base had already suffered disallowance. Business expenditure disallowed under section 37 required fresh examination because the books and supporting records were with the Department and no specific finding had been made that the claim was bogus or non-business in nature. One issue was remanded for reconsideration on the impounded records. en-us Fri, 29 Jun 2012 00:00:00 +0530 Mon, 21 Jan 2013 11:52:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216699 An opening cash balance carried forward from the immediately preceding year cannot be treated as income of the current year merely because its historical source is not explained, and a further addition on that basis is not justified. Additions relating to sundry creditors and disallowance under section 40A(3) were examined against prior labour-charge disallowances, with duplication avoided where the same factual base had already suffered disallowance. Business expenditure disallowed under section 37 required fresh examination because the books and supporting records were with the Department and no specific finding had been made that the claim was bogus or non-business in nature. One issue was remanded for reconsideration on the impounded records. Case-Laws Income Tax Fri, 29 Jun 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216699