https://www.taxtmi.com/caselaws?id=187115 Where an assessee's explanation for an unexplained deposit is rejected and no source outside the taxable territory is shown, the Tribunal may draw a reasonable inference from surrounding circumstances that the amount represents concealed business income arising within the taxable territory. Positive proof of a specific source by the department is not required on those facts. Applying that approach, the Tribunal treated Rs. 50,000 as assessable income for the relevant assessment year, and that finding was upheld. en-us Tue, 15 Dec 1964 00:00:00 +0530 Mon, 10 Oct 2016 15:38:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=187115 Where an assessee's explanation for an unexplained deposit is rejected and no source outside the taxable territory is shown, the Tribunal may draw a reasonable inference from surrounding circumstances that the amount represents concealed business income arising within the taxable territory. Positive proof of a specific source by the department is not required on those facts. Applying that approach, the Tribunal treated Rs. 50,000 as assessable income for the relevant assessment year, and that finding was upheld. Case-Laws Income Tax Tue, 15 Dec 1964 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=187115