https://www.taxtmi.com/caselaws?id=189218 The High Court ruled in favor of the assessee, stating that the firm adequately explained the credit in question, and there was insufficient material to establish it as undisclosed income. The judgment emphasized the burden of proof on tax authorities when genuine explanations are provided by taxpayers, highlighting the importance of evidence over mere suspicions in tax assessments. en-us Thu, 14 Oct 1954 00:00:00 +0530 Sat, 31 Dec 2016 16:20:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=189218 The High Court ruled in favor of the assessee, stating that the firm adequately explained the credit in question, and there was insufficient material to establish it as undisclosed income. The judgment emphasized the burden of proof on tax authorities when genuine explanations are provided by taxpayers, highlighting the importance of evidence over mere suspicions in tax assessments. Case-Laws Income Tax Thu, 14 Oct 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=189218