https://www.taxtmi.com/caselaws?id=36064 The Tribunal upheld the assessment of undisclosed income under the Income Tax Act, 1961, regarding a Rs. 20,000 deposit in the assessee's account. The burden of proof lay on the assessee to explain the source of funds, which was not discharged. Lack of evidence regarding fund utilization led to the rejection of the appeal. Judge Sudhindra Mohan Guha concurred, emphasizing the importance of evidence in such cases. The decision highlights the necessity of concrete evidence to support claims on fund sources for undisclosed income assessments. en-us Wed, 27 Aug 1980 00:00:00 +0530 Fri, 19 Mar 2010 11:31:50 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36064 The Tribunal upheld the assessment of undisclosed income under the Income Tax Act, 1961, regarding a Rs. 20,000 deposit in the assessee's account. The burden of proof lay on the assessee to explain the source of funds, which was not discharged. Lack of evidence regarding fund utilization led to the rejection of the appeal. Judge Sudhindra Mohan Guha concurred, emphasizing the importance of evidence in such cases. The decision highlights the necessity of concrete evidence to support claims on fund sources for undisclosed income assessments. Case-Laws Income Tax Wed, 27 Aug 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36064