https://www.taxtmi.com/caselaws?id=180311 Where an assessee's business profits have been estimated, unexplained cash credits and bank deposits may still be separately assessable as income from undisclosed sources if the assessee fails to give a satisfactory explanation; the legal principle distinguishing disguised parts of estimated profits from independent undisclosed income was applied, and the Appellate Tribunal's finding that the disputed credits were unexplained and not part of the estimated profits was accepted. Consequently the further addition of the disputed amount as income from undisclosed sources was held lawful and the reference against that addition was dismissed. en-us Fri, 20 Mar 1959 00:00:00 +0530 Mon, 21 Mar 2016 12:55:12 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=180311 Where an assessee's business profits have been estimated, unexplained cash credits and bank deposits may still be separately assessable as income from undisclosed sources if the assessee fails to give a satisfactory explanation; the legal principle distinguishing disguised parts of estimated profits from independent undisclosed income was applied, and the Appellate Tribunal's finding that the disputed credits were unexplained and not part of the estimated profits was accepted. Consequently the further addition of the disputed amount as income from undisclosed sources was held lawful and the reference against that addition was dismissed. Case-Laws Income Tax Fri, 20 Mar 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=180311