https://www.taxtmi.com/caselaws?id=36216 The High Court upheld the Tribunal's decision to treat the undisclosed income as income from other sources rather than business income for the assessment year 1960-61. The Court emphasized that the liability for such income should be determined under the provisions of the 1922 Act, not the 1961 Act. The Court clarified that Section 68 of the 1961 Act does not apply retrospectively to include undisclosed income in assessments for years prior to its enactment. en-us Thu, 24 Jul 1980 00:00:00 +0530 Sat, 20 Mar 2010 11:07:22 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36216 The High Court upheld the Tribunal's decision to treat the undisclosed income as income from other sources rather than business income for the assessment year 1960-61. The Court emphasized that the liability for such income should be determined under the provisions of the 1922 Act, not the 1961 Act. The Court clarified that Section 68 of the 1961 Act does not apply retrospectively to include undisclosed income in assessments for years prior to its enactment. Case-Laws Income Tax Thu, 24 Jul 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36216