https://www.taxtmi.com/caselaws?id=362915 Cash found in an assessee's possession is subject to a presumption of ownership, and the explanation for its source must be credible and consistent with surrounding circumstances and normal business probability; on the stated facts, the cash addition was upheld as unexplained income. An undated cheque without the name of the drawee, which was not encashed and had no realised monetary value, cannot by itself be treated as taxable income; the cheque addition was deleted. The note reflects partial relief where one addition is sustained and the other is rejected on the basis of evidentiary value and the test of human probabilities. en-us Tue, 03 Jul 2018 00:00:00 +0530 Thu, 05 Jul 2018 12:08:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=362915 Cash found in an assessee's possession is subject to a presumption of ownership, and the explanation for its source must be credible and consistent with surrounding circumstances and normal business probability; on the stated facts, the cash addition was upheld as unexplained income. An undated cheque without the name of the drawee, which was not encashed and had no realised monetary value, cannot by itself be treated as taxable income; the cheque addition was deleted. The note reflects partial relief where one addition is sustained and the other is rejected on the basis of evidentiary value and the test of human probabilities. Case-Laws Income Tax Tue, 03 Jul 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=362915