https://www.taxtmi.com/caselaws?id=192053 The court held that unexplained capital contributions by a partner can be treated as unexplained income of the firm under Section 68 of the Income-tax Act. The court rejected the argument that the burden of proof regarding the source of funds rested solely on the partner, emphasizing the firm's responsibility to provide satisfactory evidence. The unexplained capital contribution was deemed as income of the firm, and the court upheld the decisions of the lower authorities, dismissing the appeals. en-us Fri, 01 Jul 2016 00:00:00 +0530 Thu, 11 May 2017 09:37:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=192053 The court held that unexplained capital contributions by a partner can be treated as unexplained income of the firm under Section 68 of the Income-tax Act. The court rejected the argument that the burden of proof regarding the source of funds rested solely on the partner, emphasizing the firm's responsibility to provide satisfactory evidence. The unexplained capital contribution was deemed as income of the firm, and the court upheld the decisions of the lower authorities, dismissing the appeals. Case-Laws Income Tax Fri, 01 Jul 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=192053