https://www.taxtmi.com/caselaws?id=16845 The court upheld the ownership of deposits by the partnership firm, rejecting the claim that the deposits belonged to a specific partner. The court emphasized the positive evidence linking the deposits to the firm. Regarding the accrual of income issue, the court found that the Tribunal erroneously placed the burden of proof on the Revenue for concealment of income. The court remanded the penalty issue back to the Tribunal for a fresh assessment, highlighting the need for proper evaluation of evidence and compliance with legal provisions, emphasizing the assessee's responsibility to provide additional materials for consideration. en-us Tue, 25 Nov 1997 00:00:00 +0530 Sat, 12 Sep 2009 15:41:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=16845 The court upheld the ownership of deposits by the partnership firm, rejecting the claim that the deposits belonged to a specific partner. The court emphasized the positive evidence linking the deposits to the firm. Regarding the accrual of income issue, the court found that the Tribunal erroneously placed the burden of proof on the Revenue for concealment of income. The court remanded the penalty issue back to the Tribunal for a fresh assessment, highlighting the need for proper evaluation of evidence and compliance with legal provisions, emphasizing the assessee's responsibility to provide additional materials for consideration. Case-Laws Income Tax Tue, 25 Nov 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=16845