https://www.taxtmi.com/caselaws?id=404119 Cash deposits routed through a co-operative society's bank accounts could not be treated as unexplained investment in the hands of the society's President because the society was a separate legal entity and income had to be taxed in the hands of the right person. Any assessable income, if proved, was confined to the society and had to reflect the real income element, with service commission or peak balance methods indicated as possible measures. Additions based on loose papers and survey material required issue-wise scrutiny with reference to the correct assessment year and nature of the transaction; some items were confirmed, some restored for fresh adjudication, and one ground was rejected as not pressed. en-us Thu, 11 Feb 2021 00:00:00 +0530 Tue, 16 Feb 2021 11:23:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=404119 Cash deposits routed through a co-operative society's bank accounts could not be treated as unexplained investment in the hands of the society's President because the society was a separate legal entity and income had to be taxed in the hands of the right person. Any assessable income, if proved, was confined to the society and had to reflect the real income element, with service commission or peak balance methods indicated as possible measures. Additions based on loose papers and survey material required issue-wise scrutiny with reference to the correct assessment year and nature of the transaction; some items were confirmed, some restored for fresh adjudication, and one ground was rejected as not pressed. Case-Laws Income Tax Thu, 11 Feb 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=404119