https://www.taxtmi.com/caselaws?id=7698 An unexplained cash balance used for a property purchase was treated as income from undisclosed sources where the assessee maintained no reliable accounts and gave inconsistent, unsupported explanations. The factual finding was based on a reasonable appreciation of the evidence and was not treated as perverse, so the addition was sustained. On the same facts, concealment of income and shifting stands before the revenue authorities were held sufficient to satisfy the conditions for penalty for concealment, and the penalty was upheld. en-us Tue, 04 Nov 1969 00:00:00 +0530 Tue, 17 Mar 2009 16:19:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=7698 An unexplained cash balance used for a property purchase was treated as income from undisclosed sources where the assessee maintained no reliable accounts and gave inconsistent, unsupported explanations. The factual finding was based on a reasonable appreciation of the evidence and was not treated as perverse, so the addition was sustained. On the same facts, concealment of income and shifting stands before the revenue authorities were held sufficient to satisfy the conditions for penalty for concealment, and the penalty was upheld. Case-Laws Income Tax Tue, 04 Nov 1969 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=7698