https://www.taxtmi.com/caselaws?id=19193 The court upheld the addition of Rs. 85,000 as income from undisclosed sources, rejecting the assessee's explanations. The deduction of Rs. 84,000 confiscated by customs authorities as a business loss was denied as it was not linked to any specific business activity. The court ruled in favor of the Revenue on both issues, emphasizing the need for satisfactory explanations for income sources and the impact of unexplained possession of cash in tax assessments. en-us Tue, 25 Apr 1995 00:00:00 +0530 Wed, 04 Nov 2009 15:37:16 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19193 The court upheld the addition of Rs. 85,000 as income from undisclosed sources, rejecting the assessee's explanations. The deduction of Rs. 84,000 confiscated by customs authorities as a business loss was denied as it was not linked to any specific business activity. The court ruled in favor of the Revenue on both issues, emphasizing the need for satisfactory explanations for income sources and the impact of unexplained possession of cash in tax assessments. Case-Laws Income Tax Tue, 25 Apr 1995 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19193