https://www.taxtmi.com/caselaws?id=216785 The High Court upheld the Tribunal's decision in a case involving the addition of peak credits as income from undisclosed sources. The Court emphasized the lack of substantial evidence linking the assessee to alleged illegal activities and highlighted the necessity for concrete proof to establish such connections. The judgment favored the assessee, dismissing the Revenue's appeal and stressing the importance of clear evidence in justifying additions to undisclosed income. en-us Mon, 17 Sep 2012 00:00:00 +0530 Thu, 20 Sep 2012 11:54:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216785 The High Court upheld the Tribunal's decision in a case involving the addition of peak credits as income from undisclosed sources. The Court emphasized the lack of substantial evidence linking the assessee to alleged illegal activities and highlighted the necessity for concrete proof to establish such connections. The judgment favored the assessee, dismissing the Revenue's appeal and stressing the importance of clear evidence in justifying additions to undisclosed income. Case-Laws Income Tax Mon, 17 Sep 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216785