https://www.taxtmi.com/caselaws?id=5857 The Supreme Court upheld the decision of the Appellate Tribunal, affirming that the cash credits were treated as the income of the assessee-firm from undisclosed sources. The Court held that the voluntary disclosures made by minors did not preclude further investigation by revenue authorities. It was concluded that the assessee-firm failed to prove the nature and source of the credits, and the burden of proof under Section 68 of the I.T. Act, 1961, was not discharged. The revenue authorities were entitled to investigate, and the reference was decided in favor of the revenue against the assessee. en-us Fri, 08 May 1981 00:00:00 +0530 Fri, 28 Nov 2008 00:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=5857 The Supreme Court upheld the decision of the Appellate Tribunal, affirming that the cash credits were treated as the income of the assessee-firm from undisclosed sources. The Court held that the voluntary disclosures made by minors did not preclude further investigation by revenue authorities. It was concluded that the assessee-firm failed to prove the nature and source of the credits, and the burden of proof under Section 68 of the I.T. Act, 1961, was not discharged. The revenue authorities were entitled to investigate, and the reference was decided in favor of the revenue against the assessee. Case-Laws Income Tax Fri, 08 May 1981 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=5857