https://www.taxtmi.com/caselaws?id=24571 The High Court upheld the Tribunal's decision to add undisclosed income to the assessee's tax assessment based on loans claimed for property purchases. The Court found the assessee had the opportunity to provide evidence but failed to establish the genuineness of the loans. The burden of proof was on the assessee, and the Tribunal's factual findings were deemed sufficient. The Court rejected the application for reference, determining no legal issue arose, and each party would bear their own costs. en-us Wed, 21 Sep 1988 00:00:00 +0530 Thu, 21 Jan 2010 10:04:37 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=24571 The High Court upheld the Tribunal's decision to add undisclosed income to the assessee's tax assessment based on loans claimed for property purchases. The Court found the assessee had the opportunity to provide evidence but failed to establish the genuineness of the loans. The burden of proof was on the assessee, and the Tribunal's factual findings were deemed sufficient. The Court rejected the application for reference, determining no legal issue arose, and each party would bear their own costs. Case-Laws Income Tax Wed, 21 Sep 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=24571