https://www.taxtmi.com/caselaws?id=258451 The High Court set aside the Tribunal's decision and restored the CIT(A)'s judgment in a case concerning the treatment of receipts as income. The Court found that the assessee failed to provide satisfactory explanations and evidence to prove the source of cash deposits, leading to the addition of the amounts as income. The Court emphasized the assessee's failure to meet the burden of proof required by law and allowed the Assessing Officer to draw adverse inferences due to the lack of evidence presented. en-us Tue, 13 Jan 2015 00:00:00 +0530 Fri, 10 Apr 2015 09:02:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=258451 The High Court set aside the Tribunal's decision and restored the CIT(A)'s judgment in a case concerning the treatment of receipts as income. The Court found that the assessee failed to provide satisfactory explanations and evidence to prove the source of cash deposits, leading to the addition of the amounts as income. The Court emphasized the assessee's failure to meet the burden of proof required by law and allowed the Assessing Officer to draw adverse inferences due to the lack of evidence presented. Case-Laws Income Tax Tue, 13 Jan 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=258451