https://www.taxtmi.com/caselaws?id=185817 The Tribunal's adoption of reasoning already recorded in the connected appeal was not vitiated where both years were heard together, the enquiries were identical, and no distinct factual basis or argument was shown for the later year. In unexplained cash-credit cases, the assessee bears the burden of explaining the source and nature of credits, including amounts standing in the names of partners or third parties; a third-party name does not shift the onus to the Revenue. Where the explanation is unsatisfactory, the credits may be treated as the assessee's assessable income. The reference was answered against the assessee and the Tribunal's dismissal was upheld. en-us Fri, 09 Jan 1959 00:00:00 +0530 Mon, 29 Aug 2016 17:20:24 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=185817 The Tribunal's adoption of reasoning already recorded in the connected appeal was not vitiated where both years were heard together, the enquiries were identical, and no distinct factual basis or argument was shown for the later year. In unexplained cash-credit cases, the assessee bears the burden of explaining the source and nature of credits, including amounts standing in the names of partners or third parties; a third-party name does not shift the onus to the Revenue. Where the explanation is unsatisfactory, the credits may be treated as the assessee's assessable income. The reference was answered against the assessee and the Tribunal's dismissal was upheld. Case-Laws Income Tax Fri, 09 Jan 1959 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=185817