https://www.taxtmi.com/caselaws?id=370993 Unexplained payments to a trust must be assessed year-wise against proved sources, and only established bank loans or sale proceeds can be credited; a later agreement cannot explain earlier payments, so unsupported blanket restriction of additions is unsustainable. Estimated income from Abu Dhabi could not be sustained because it rested on surmise without material evidence. Receipts from sale of timber, machinery and demolished factory materials were treated as income in the assessee's hands. Capital gains were upheld by applying the transfer concept under Section 2(47)(v) of the Income-tax Act read with part performance under Section 53A of the Transfer of Property Act, 1882. en-us Fri, 02 Nov 2018 00:00:00 +0530 Tue, 23 Jul 2019 16:18:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=370993 Unexplained payments to a trust must be assessed year-wise against proved sources, and only established bank loans or sale proceeds can be credited; a later agreement cannot explain earlier payments, so unsupported blanket restriction of additions is unsustainable. Estimated income from Abu Dhabi could not be sustained because it rested on surmise without material evidence. Receipts from sale of timber, machinery and demolished factory materials were treated as income in the assessee's hands. Capital gains were upheld by applying the transfer concept under Section 2(47)(v) of the Income-tax Act read with part performance under Section 53A of the Transfer of Property Act, 1882. Case-Laws Income Tax Fri, 02 Nov 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=370993