https://www.taxtmi.com/caselaws?id=18781 In income-tax proceedings, an addition for undisclosed income cannot be sustained where the books of account were not rejected, the assessee's explanation was plausible, and an earlier accepted explanation existed for an identical matter in the preceding year. The Tribunal was required to consider the rule of consistency, the lapse of time, fading memory, surrounding circumstances, and the totality of probabilities before rejecting the explanation. On those facts, the Tribunal was not justified in affirming the addition of undisclosed income, and the issue was decided in favour of the assessee. en-us Wed, 08 Mar 1995 00:00:00 +0530 Mon, 02 Nov 2009 10:27:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18781 In income-tax proceedings, an addition for undisclosed income cannot be sustained where the books of account were not rejected, the assessee's explanation was plausible, and an earlier accepted explanation existed for an identical matter in the preceding year. The Tribunal was required to consider the rule of consistency, the lapse of time, fading memory, surrounding circumstances, and the totality of probabilities before rejecting the explanation. On those facts, the Tribunal was not justified in affirming the addition of undisclosed income, and the issue was decided in favour of the assessee. Case-Laws Income Tax Wed, 08 Mar 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18781