https://www.taxtmi.com/caselaws?id=334773 The High Court upheld the Assessing Officer's findings that both the fixed deposit of Rs. 13.35 lakhs and the cash of Rs. 20.66 lakhs constituted undisclosed income. The Court rejected the Tribunal's decision that accepted the assessee's explanations, emphasizing the lack of credible evidence and genuine documentation to support the claimed sources of income. The judgment highlighted the significance of providing substantiated evidence during tax assessments to avoid treating unexplained funds as undisclosed income. en-us Wed, 20 Apr 2016 00:00:00 +0530 Mon, 21 Nov 2016 13:49:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=334773 The High Court upheld the Assessing Officer's findings that both the fixed deposit of Rs. 13.35 lakhs and the cash of Rs. 20.66 lakhs constituted undisclosed income. The Court rejected the Tribunal's decision that accepted the assessee's explanations, emphasizing the lack of credible evidence and genuine documentation to support the claimed sources of income. The judgment highlighted the significance of providing substantiated evidence during tax assessments to avoid treating unexplained funds as undisclosed income. Case-Laws Income Tax Wed, 20 Apr 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=334773