https://www.taxtmi.com/caselaws?id=300767 The Tribunal upheld the authorities' decision to treat the excess stock value as income from undisclosed sources under the IT Act for the assessment year 1971-72. The Tribunal found the assessee's explanations lacking credibility and emphasized the failure to provide concrete evidence to counter the presumption under section 69 of the IT Act. The High Court concurred with the Tribunal's decision, stating no legal question arose, and affirmed the treatment of the excess stock value as undisclosed income. en-us Tue, 22 Aug 1989 00:00:00 +0530 Wed, 23 Feb 2022 18:04:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=300767 The Tribunal upheld the authorities' decision to treat the excess stock value as income from undisclosed sources under the IT Act for the assessment year 1971-72. The Tribunal found the assessee's explanations lacking credibility and emphasized the failure to provide concrete evidence to counter the presumption under section 69 of the IT Act. The High Court concurred with the Tribunal's decision, stating no legal question arose, and affirmed the treatment of the excess stock value as undisclosed income. Case-Laws Income Tax Tue, 22 Aug 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=300767