https://www.taxtmi.com/caselaws?id=269922 Telescopic adjustment was allowed where estimated block additions for household expenses, land investment and foreign travel were sourced from undisclosed income already taxed in partnership firms; the assessee was entitled to set off the additions to the extent of his share in the firms' undisclosed profits, with quantification remitted to the Assessing Officer. The addition for fixed deposits was deleted because the source was explained through the sale proceeds of flats owned by the assessee's sister, who had already disclosed the capital gains in her return, and the documentary evidence discharged the onus on source of funds. en-us Thu, 15 Oct 2015 00:00:00 +0530 Thu, 24 Dec 2015 10:10:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=269922 Telescopic adjustment was allowed where estimated block additions for household expenses, land investment and foreign travel were sourced from undisclosed income already taxed in partnership firms; the assessee was entitled to set off the additions to the extent of his share in the firms' undisclosed profits, with quantification remitted to the Assessing Officer. The addition for fixed deposits was deleted because the source was explained through the sale proceeds of flats owned by the assessee's sister, who had already disclosed the capital gains in her return, and the documentary evidence discharged the onus on source of funds. Case-Laws Income Tax Thu, 15 Oct 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=269922