https://www.taxtmi.com/caselaws?id=18979 The High Court held that the Tribunal erred in upholding the Income-tax Officer's decision solely based on book entries, without considering other evidence provided by the assessee. The Court found no unaccounted money introduced and emphasized that fabricated evidence conclusions were based on conjectures. It ruled that tax authorities cannot reject one part of a transaction after accepting another. As the expenses were accepted, the disclosed receipt should also be accepted. The Court ruled in favor of the assessee, concluding that there was no direct nexus between the facts found and the conclusions drawn, with no costs awarded. en-us Fri, 04 Feb 1994 00:00:00 +0530 Tue, 03 Nov 2009 11:59:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=18979 The High Court held that the Tribunal erred in upholding the Income-tax Officer's decision solely based on book entries, without considering other evidence provided by the assessee. The Court found no unaccounted money introduced and emphasized that fabricated evidence conclusions were based on conjectures. It ruled that tax authorities cannot reject one part of a transaction after accepting another. As the expenses were accepted, the disclosed receipt should also be accepted. The Court ruled in favor of the assessee, concluding that there was no direct nexus between the facts found and the conclusions drawn, with no costs awarded. Case-Laws Income Tax Fri, 04 Feb 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=18979