https://www.taxtmi.com/caselaws?id=19175 The court upheld the decision that the assessee failed to provide convincing proof of the genuineness of a cash credit of Rs. 35,000, treated as income from undisclosed sources. Despite conflicting statements from the firm partner and lack of substantial evidence, the court ruled in favor of the Revenue, emphasizing the need for convincing material to establish the credit's authenticity. The Tribunal's decision was supported by various reasons and circumstantial evidence, with the burden of proof falling on the assessee. The reference was answered in favor of the Revenue, with no costs imposed. en-us Fri, 08 Apr 1994 00:00:00 +0530 Wed, 04 Nov 2009 14:01:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19175 The court upheld the decision that the assessee failed to provide convincing proof of the genuineness of a cash credit of Rs. 35,000, treated as income from undisclosed sources. Despite conflicting statements from the firm partner and lack of substantial evidence, the court ruled in favor of the Revenue, emphasizing the need for convincing material to establish the credit's authenticity. The Tribunal's decision was supported by various reasons and circumstantial evidence, with the burden of proof falling on the assessee. The reference was answered in favor of the Revenue, with no costs imposed. Case-Laws Income Tax Fri, 08 Apr 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19175