https://www.taxtmi.com/caselaws?id=173802 Mere rejection of an assessee's explanation for a bank credit does not, by itself, justify treating the amount as income from undisclosed sources. Where the assessee shows a prima facie source for the funds and the surrounding circumstances do not reasonably support an inference of taxable receipt, the credit cannot be assessed as income only because the explanation is not fully detailed. If the Department produces no rebutting material, the explanation cannot be discarded as arbitrary. On the stated facts, the credit of Rs. 8,500 in the wife's bank account was not sustainable as undisclosed income. en-us Wed, 09 Feb 1955 00:00:00 +0530 Tue, 22 Sep 2015 17:26:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=173802 Mere rejection of an assessee's explanation for a bank credit does not, by itself, justify treating the amount as income from undisclosed sources. Where the assessee shows a prima facie source for the funds and the surrounding circumstances do not reasonably support an inference of taxable receipt, the credit cannot be assessed as income only because the explanation is not fully detailed. If the Department produces no rebutting material, the explanation cannot be discarded as arbitrary. On the stated facts, the credit of Rs. 8,500 in the wife's bank account was not sustainable as undisclosed income. Case-Laws Income Tax Wed, 09 Feb 1955 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=173802