https://www.taxtmi.com/caselaws?id=23885 The court held that the sum of Rs. 1,00,000 should be assessable in the hands of the assessee for the assessment year 1955-56. It disagreed with the Tribunal's decision to delete the addition for that year, emphasizing that the investment only surfaced in that assessment year. The court found the Tribunal's decision unreasonable due to lack of evidence supporting the possession of large funds by the assessee in previous years. Consequently, the court ruled in favor of the Revenue, awarding costs for the reference. en-us Mon, 17 Apr 1989 00:00:00 +0530 Fri, 15 Jan 2010 10:47:53 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=23885 The court held that the sum of Rs. 1,00,000 should be assessable in the hands of the assessee for the assessment year 1955-56. It disagreed with the Tribunal's decision to delete the addition for that year, emphasizing that the investment only surfaced in that assessment year. The court found the Tribunal's decision unreasonable due to lack of evidence supporting the possession of large funds by the assessee in previous years. Consequently, the court ruled in favor of the Revenue, awarding costs for the reference. Case-Laws Income Tax Mon, 17 Apr 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=23885