https://www.taxtmi.com/caselaws?id=288934 An amount cannot be assessed as income for a particular accounting year unless the record contains a reasoned finding, supported by evidence, that it was income and that it accrued or was received in that year. Here, the addition under section 34 failed because there was no specific finding that the sum was income of the assessee or joint family, and no material showing receipt or accrual during the relevant year. The Tribunal's further observation did not supply the missing factual basis. The tax addition was therefore unsustainable and the reference was answered against the Revenue. en-us Tue, 24 Sep 1957 00:00:00 +0530 Mon, 06 Jul 2020 17:15:18 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=288934 An amount cannot be assessed as income for a particular accounting year unless the record contains a reasoned finding, supported by evidence, that it was income and that it accrued or was received in that year. Here, the addition under section 34 failed because there was no specific finding that the sum was income of the assessee or joint family, and no material showing receipt or accrual during the relevant year. The Tribunal's further observation did not supply the missing factual basis. The tax addition was therefore unsustainable and the reference was answered against the Revenue. Case-Laws Income Tax Tue, 24 Sep 1957 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=288934