https://www.taxtmi.com/caselaws?id=193056 Undisclosed cash credits were treated as income from a source different from the assessee's disclosed business, and no separate accounting period had been adopted for that income. The Court held that unexplained receipts are not presumed to arise from the same business; that is a factual question. On the facts found, the statutory rule governing the previous year applied, so the relevant accounting period for the undisclosed income was the financial year ending on 31 March 1946. The reference was answered in favour of the assessee. en-us Wed, 08 Dec 1954 00:00:00 +0530 Tue, 11 Jul 2017 17:52:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=193056 Undisclosed cash credits were treated as income from a source different from the assessee's disclosed business, and no separate accounting period had been adopted for that income. The Court held that unexplained receipts are not presumed to arise from the same business; that is a factual question. On the facts found, the statutory rule governing the previous year applied, so the relevant accounting period for the undisclosed income was the financial year ending on 31 March 1946. The reference was answered in favour of the assessee. Case-Laws Income Tax Wed, 08 Dec 1954 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=193056