https://www.taxtmi.com/caselaws?id=181158 A false explanation for money deposited in the assessee's wife's name may be rejected where the stated gift source is unsupported and the wife has no independent means. Here, the claimed gift from the adoptive father was found untenable because contemporaneous materials did not support it and the father had no available funds. On those proved facts, the Tribunal could infer that the deposit represented the assessee's own income from undisclosed sources. The result was that the finding was supported by sufficient material, and the assessee's reliance on cases involving only a bare legal presumption did not assist him. en-us Thu, 09 Jan 1964 00:00:00 +0530 Fri, 08 Apr 2016 12:51:11 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=181158 A false explanation for money deposited in the assessee's wife's name may be rejected where the stated gift source is unsupported and the wife has no independent means. Here, the claimed gift from the adoptive father was found untenable because contemporaneous materials did not support it and the father had no available funds. On those proved facts, the Tribunal could infer that the deposit represented the assessee's own income from undisclosed sources. The result was that the finding was supported by sufficient material, and the assessee's reliance on cases involving only a bare legal presumption did not assist him. Case-Laws Income Tax Thu, 09 Jan 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=181158