https://www.taxtmi.com/caselaws?id=9054 Where an assessee failed to satisfactorily explain the source of investment for construction, the High Court upheld the Tribunal's finding that the amount represented income from undisclosed sources because it was based on relevant material and not conjecture. The Tribunal's estimate of construction cost was also sustained because the assessee produced only an architect's estimate and withheld fuller accounts, while the authorities were entitled to make their own estimate on the available evidence and experience. On reference, such fact-finding conclusions will not be disturbed unless perverse or unsupported by evidence. en-us Tue, 07 Aug 1973 00:00:00 +0530 Thu, 18 Jun 2009 19:24:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=9054 Where an assessee failed to satisfactorily explain the source of investment for construction, the High Court upheld the Tribunal's finding that the amount represented income from undisclosed sources because it was based on relevant material and not conjecture. The Tribunal's estimate of construction cost was also sustained because the assessee produced only an architect's estimate and withheld fuller accounts, while the authorities were entitled to make their own estimate on the available evidence and experience. On reference, such fact-finding conclusions will not be disturbed unless perverse or unsupported by evidence. Case-Laws Income Tax Tue, 07 Aug 1973 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=9054