https://www.taxtmi.com/caselaws?id=17305 The High Court upheld the decisions of lower authorities in a tax assessment case involving the appreciation of the evidentiary value of an affidavit and the determination of ownership of a money-lending business. The court found the affidavit submitted by one of the partners to be lacking credibility and affirmed the addition of undisclosed income to the assessee's total income. It was concluded that the affidavit was an afterthought and an attempt to cover up discrepancies, resulting in a ruling against the assessee and in favor of the Revenue. en-us Wed, 09 Apr 1997 00:00:00 +0530 Mon, 21 Sep 2009 13:53:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17305 The High Court upheld the decisions of lower authorities in a tax assessment case involving the appreciation of the evidentiary value of an affidavit and the determination of ownership of a money-lending business. The court found the affidavit submitted by one of the partners to be lacking credibility and affirmed the addition of undisclosed income to the assessee's total income. It was concluded that the affidavit was an afterthought and an attempt to cover up discrepancies, resulting in a ruling against the assessee and in favor of the Revenue. Case-Laws Income Tax Wed, 09 Apr 1997 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17305