https://www.taxtmi.com/caselaws?id=15576 HC upheld the Tribunal's deletion of a Rs.26,000 addition for alleged income from undisclosed sources, ruling that the ITO cannot base assessment solely on the assessee's statement to a third party (e.g., a bank) absent corroborative material. The court held the burden of proving undisclosed income rests on Revenue, and mere statements to non-assessment parties do not create an irrebuttable presumption of suppression. The Tribunal accepted the assessee's explanation on facts, and the HC found no scope to interfere with that factual conclusion. en-us Thu, 03 Sep 1998 00:00:00 +0530 Thu, 09 Oct 2025 21:28:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=15576 HC upheld the Tribunal's deletion of a Rs.26,000 addition for alleged income from undisclosed sources, ruling that the ITO cannot base assessment solely on the assessee's statement to a third party (e.g., a bank) absent corroborative material. The court held the burden of proving undisclosed income rests on Revenue, and mere statements to non-assessment parties do not create an irrebuttable presumption of suppression. The Tribunal accepted the assessee's explanation on facts, and the HC found no scope to interfere with that factual conclusion. Case-Laws Income Tax Thu, 03 Sep 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=15576