https://www.taxtmi.com/caselaws?id=8297 Unexplained cash credits may be treated as income of the year in which they are credited when the assessee's explanation is rejected, and a new factual plea not urged before the tax authorities or Tribunal will not be entertained. On that issue, the addition was sustained against the assessee. Registration of a firm under section 26A cannot be refused merely because concealed profits were not divided among partners, where the partnership deed exists, the firm's genuineness is accepted, and the statutory requirements are otherwise satisfied. On that issue, registration was upheld in favour of the assessee. en-us Mon, 16 Feb 1970 00:00:00 +0530 Sat, 18 Jan 2020 14:21:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=8297 Unexplained cash credits may be treated as income of the year in which they are credited when the assessee's explanation is rejected, and a new factual plea not urged before the tax authorities or Tribunal will not be entertained. On that issue, the addition was sustained against the assessee. Registration of a firm under section 26A cannot be refused merely because concealed profits were not divided among partners, where the partnership deed exists, the firm's genuineness is accepted, and the statutory requirements are otherwise satisfied. On that issue, registration was upheld in favour of the assessee. Case-Laws Income Tax Mon, 16 Feb 1970 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=8297