https://www.taxtmi.com/caselaws?id=26480 The High Court affirmed the Tribunal's decision to uphold the addition of Rs. 73,075 under section 69 of the Income-tax Act, 1961, against M/s. Himmatram Laxminarain. The Court found that undisclosed business activities outside the books of account constituted the assessee's income for the financial year, emphasizing the secret nature of the transactions. Despite the assessee's argument of insufficient material supporting the investment amount, the Court ruled in favor of the Revenue, directing each party to bear their own costs. en-us Mon, 26 Aug 1985 00:00:00 +0530 Fri, 05 Feb 2010 12:54:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=26480 The High Court affirmed the Tribunal's decision to uphold the addition of Rs. 73,075 under section 69 of the Income-tax Act, 1961, against M/s. Himmatram Laxminarain. The Court found that undisclosed business activities outside the books of account constituted the assessee's income for the financial year, emphasizing the secret nature of the transactions. Despite the assessee's argument of insufficient material supporting the investment amount, the Court ruled in favor of the Revenue, directing each party to bear their own costs. Case-Laws Income Tax Mon, 26 Aug 1985 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=26480