https://www.taxtmi.com/caselaws?id=273196 Where cash credits were entered in the accounts of related third parties, the court distinguished between circumstances permitting an inference of undisclosed income and a mere rejected explanation. For the minor son's credit, the partner's control over firm funds and the absence of satisfactory proof linking withdrawals to later deposits provided material to treat the amount as the assessee's taxable profits, and that finding was upheld. For the father's credit, the entry stood in an adult third party's name and the Department produced no additional material connecting it to the firm, so the amount could not be treated as the assessee's income and that finding was set aside. en-us Thu, 18 Dec 1958 00:00:00 +0530 Mon, 11 Jun 2018 15:01:52 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=273196 Where cash credits were entered in the accounts of related third parties, the court distinguished between circumstances permitting an inference of undisclosed income and a mere rejected explanation. For the minor son's credit, the partner's control over firm funds and the absence of satisfactory proof linking withdrawals to later deposits provided material to treat the amount as the assessee's taxable profits, and that finding was upheld. For the father's credit, the entry stood in an adult third party's name and the Department produced no additional material connecting it to the firm, so the amount could not be treated as the assessee's income and that finding was set aside. Case-Laws Income Tax Thu, 18 Dec 1958 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=273196