https://www.taxtmi.com/caselaws?id=5469 SC dismissed the appeals with costs, holding that amounts credited to the appellant's capital account were income from undisclosed sources rather than genuine race winnings. Applying the test of human probabilities and reviewing surrounding circumstances and a sworn statement, the Court endorsed the Settlement Commission majority finding that the explanation of post-event purchase of winning tickets was plausible and that direct evidence would rarely exist. The Chairman's contrary view was rejected as ignoring prevalent malpractice and statutory context; no interference with the Commission's order was warranted. en-us Tue, 28 Mar 1995 00:00:00 +0530 Fri, 15 May 2026 18:03:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5469 SC dismissed the appeals with costs, holding that amounts credited to the appellant's capital account were income from undisclosed sources rather than genuine race winnings. Applying the test of human probabilities and reviewing surrounding circumstances and a sworn statement, the Court endorsed the Settlement Commission majority finding that the explanation of post-event purchase of winning tickets was plausible and that direct evidence would rarely exist. The Chairman's contrary view was rejected as ignoring prevalent malpractice and statutory context; no interference with the Commission's order was warranted. Case-Laws Income Tax Tue, 28 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5469