https://www.taxtmi.com/caselaws?id=185080 Assessment under section 23 was treated as valid where the assessee had repeated opportunities to produce accounts and evidence but failed to do so; the notice to show cause was sufficient compliance with the statutory requirement, and assessment under section 23(3) was proper rather than a case requiring section 23(4). The disputed sums were also upheld as taxable income because the assessee did not prove that they were deductible interest or taxable only in the hands of the recipients under section 42. The burden to establish the deduction rested on the assessee, and in the absence of reliable evidence the authority could draw reasonable inferences from the surrounding facts. en-us Tue, 27 Oct 1925 00:00:00 +0530 Fri, 29 Jul 2016 18:32:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185080 Assessment under section 23 was treated as valid where the assessee had repeated opportunities to produce accounts and evidence but failed to do so; the notice to show cause was sufficient compliance with the statutory requirement, and assessment under section 23(3) was proper rather than a case requiring section 23(4). The disputed sums were also upheld as taxable income because the assessee did not prove that they were deductible interest or taxable only in the hands of the recipients under section 42. The burden to establish the deduction rested on the assessee, and in the absence of reliable evidence the authority could draw reasonable inferences from the surrounding facts. Case-Laws Income Tax Tue, 27 Oct 1925 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185080