https://www.taxtmi.com/caselaws?id=170926 Question whether cash deposits shown in a third party firm's books constituted revenue receipts of the assessee family was resolved by applying the principle that the onus to prove the true nature and source of an admitted receipt lies on the assessee, but an adverse inference from rejected explanations is available principally where entries appear in the assessee's own books. Where deposits appear only in third party books, revenue must produce independent material to displace apparent ownership and establish beneficial ownership by the assessee; absent such material, the deposits were not treated as the assessee's income and the reference was answered negatively with costs. en-us Tue, 13 Sep 1960 00:00:00 +0530 Wed, 01 Jul 2015 12:55:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=170926 Question whether cash deposits shown in a third party firm's books constituted revenue receipts of the assessee family was resolved by applying the principle that the onus to prove the true nature and source of an admitted receipt lies on the assessee, but an adverse inference from rejected explanations is available principally where entries appear in the assessee's own books. Where deposits appear only in third party books, revenue must produce independent material to displace apparent ownership and establish beneficial ownership by the assessee; absent such material, the deposits were not treated as the assessee's income and the reference was answered negatively with costs. Case-Laws Income Tax Tue, 13 Sep 1960 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=170926