https://www.taxtmi.com/caselaws?id=32553 The assessee's explanation for cash found during search was rejected because, at the time of search, he stated that the money represented family savings and did not mention that part belonged to Cain Technology India Pvt. Ltd.; the books of account were also not produced during the search. Cashbook material filed later in assessment was treated as an afterthought. As the authorities recorded concurrent findings of fact and no perversity was shown, no substantial question of law arose. The High Court therefore upheld the findings against the assessee and in favour of the Revenue. en-us Tue, 03 Mar 2009 00:00:00 +0530 Mon, 12 Sep 2011 15:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=32553 The assessee's explanation for cash found during search was rejected because, at the time of search, he stated that the money represented family savings and did not mention that part belonged to Cain Technology India Pvt. Ltd.; the books of account were also not produced during the search. Cashbook material filed later in assessment was treated as an afterthought. As the authorities recorded concurrent findings of fact and no perversity was shown, no substantial question of law arose. The High Court therefore upheld the findings against the assessee and in favour of the Revenue. Case-Laws Income Tax Tue, 03 Mar 2009 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=32553