https://www.taxtmi.com/caselaws?id=22922 Where land was purchased in the names of the sons of a Hindu undivided family, affidavits asserting their individual ownership and solvency were insufficient because they did not clearly show an independent source of purchase funds. In the absence of acceptable proof of separate financing, the surrounding facts justified the inference that the consideration came from family funds, making the addition as unexplained income reasonable. The analysis thus supports treating the purchase money as income from undisclosed sources when the alleged independent source is not established by credible material. en-us Thu, 09 Aug 1990 00:00:00 +0530 Tue, 15 Dec 2009 13:37:44 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=22922 Where land was purchased in the names of the sons of a Hindu undivided family, affidavits asserting their individual ownership and solvency were insufficient because they did not clearly show an independent source of purchase funds. In the absence of acceptable proof of separate financing, the surrounding facts justified the inference that the consideration came from family funds, making the addition as unexplained income reasonable. The analysis thus supports treating the purchase money as income from undisclosed sources when the alleged independent source is not established by credible material. Case-Laws Income Tax Thu, 09 Aug 1990 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=22922