https://www.taxtmi.com/caselaws?id=12425 The Tribunal deleted the addition as undisclosed income because the transaction was recorded in the assessee's books, disclosed in the audited balance-sheet, and supported by surrounding facts indicating bona fide belief in its genuineness, including cheque payment and insurance premium deposits. On those findings, there was no concealment within section 158B(b) of the Income-tax Act, so the amount could not be treated as undisclosed income. The High Court treated the Tribunal's conclusions as findings of fact and held that no substantial question of law arose for interference under section 260A. en-us Thu, 14 Mar 2002 00:00:00 +0530 Wed, 24 Feb 2010 15:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=12425 The Tribunal deleted the addition as undisclosed income because the transaction was recorded in the assessee's books, disclosed in the audited balance-sheet, and supported by surrounding facts indicating bona fide belief in its genuineness, including cheque payment and insurance premium deposits. On those findings, there was no concealment within section 158B(b) of the Income-tax Act, so the amount could not be treated as undisclosed income. The High Court treated the Tribunal's conclusions as findings of fact and held that no substantial question of law arose for interference under section 260A. Case-Laws Income Tax Thu, 14 Mar 2002 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=12425