https://www.taxtmi.com/caselaws?id=17430 The High Court of Kerala ruled in favor of the assessee in assessment proceedings for the year 1967-68, deleting an addition of Rs. 50,000 and canceling a penalty under section 271(1)(c) of the Income-tax Act, 1961. Despite the assessee being non est and efforts to involve heirs failing, the court relied on the Code of Civil Procedure and precedent to address the issues. The court accepted the explanation that the Rs. 50,000 amount came from unaccounted profits, emphasizing the importance of factual findings and evidence in tax matters. The judgment favored the assessee, affirming the deletion of the addition and cancellation of the penalty. en-us Fri, 05 Jul 1996 00:00:00 +0530 Tue, 22 Sep 2009 13:22:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17430 The High Court of Kerala ruled in favor of the assessee in assessment proceedings for the year 1967-68, deleting an addition of Rs. 50,000 and canceling a penalty under section 271(1)(c) of the Income-tax Act, 1961. Despite the assessee being non est and efforts to involve heirs failing, the court relied on the Code of Civil Procedure and precedent to address the issues. The court accepted the explanation that the Rs. 50,000 amount came from unaccounted profits, emphasizing the importance of factual findings and evidence in tax matters. The judgment favored the assessee, affirming the deletion of the addition and cancellation of the penalty. Case-Laws Income Tax Fri, 05 Jul 1996 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17430