https://www.taxtmi.com/caselaws?id=177928 Valid reassessment for escaped income under section 34 allowed the Income-tax Officer to examine and tax other unexplained items found in the books, not merely the item that triggered reopening. The assessee bore the burden of proving the source of cash credits, and failure to support the explanation with reliable evidence justified treating the credits as income from undisclosed sources; that inference was treated as a finding of fact. On the evidence, sale proceeds of gold and deposits made in third-party names were also correctly added as undisclosed income, and prior assessment on a percentage basis did not bar such further additions. en-us Thu, 05 Sep 1957 00:00:00 +0530 Fri, 22 Jan 2016 10:55:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=177928 Valid reassessment for escaped income under section 34 allowed the Income-tax Officer to examine and tax other unexplained items found in the books, not merely the item that triggered reopening. The assessee bore the burden of proving the source of cash credits, and failure to support the explanation with reliable evidence justified treating the credits as income from undisclosed sources; that inference was treated as a finding of fact. On the evidence, sale proceeds of gold and deposits made in third-party names were also correctly added as undisclosed income, and prior assessment on a percentage basis did not bar such further additions. Case-Laws Income Tax Thu, 05 Sep 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=177928