https://www.taxtmi.com/caselaws?id=161423 Unexplained cash credits in separate accounts could not be treated as one composite account for peak-credit computation where there was no factual basis to show a single consolidated cash stream. The assessee also had the burden to prove that the credits were covered by earlier intangible additions already taxed; absent such proof, the credits could be assessed as income of the year in which they appeared, and deletion of the addition was unsustainable. In a tax reference, the High Court may recast the questions referred to bring out the real controversy arising from the statement of case. en-us Tue, 09 Sep 1958 00:00:00 +0530 Sat, 25 Jan 2014 12:53:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=161423 Unexplained cash credits in separate accounts could not be treated as one composite account for peak-credit computation where there was no factual basis to show a single consolidated cash stream. The assessee also had the burden to prove that the credits were covered by earlier intangible additions already taxed; absent such proof, the credits could be assessed as income of the year in which they appeared, and deletion of the addition was unsustainable. In a tax reference, the High Court may recast the questions referred to bring out the real controversy arising from the statement of case. Case-Laws Income Tax Tue, 09 Sep 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=161423