https://www.taxtmi.com/caselaws?id=177626 The Tribunal's estimate of amounts allegedly retained for family income-tax and marriage expenses was vitiated because it ignored material evidence already before it, including assessed tax liability and proof of actual tax payment. Although the Tribunal, as final fact-finding authority, could accept or reject the assessee's explanation, it was required to consider all important evidence before making an estimate. Its failure to do so, coupled with an error of record, amounted to an error of law and invalidated the finding. The question was therefore answered in favour of the assessee. en-us Mon, 24 Mar 1958 00:00:00 +0530 Wed, 13 Jan 2016 17:42:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177626 The Tribunal's estimate of amounts allegedly retained for family income-tax and marriage expenses was vitiated because it ignored material evidence already before it, including assessed tax liability and proof of actual tax payment. Although the Tribunal, as final fact-finding authority, could accept or reject the assessee's explanation, it was required to consider all important evidence before making an estimate. Its failure to do so, coupled with an error of record, amounted to an error of law and invalidated the finding. The question was therefore answered in favour of the assessee. Case-Laws Income Tax Mon, 24 Mar 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177626