https://www.taxtmi.com/caselaws?id=36230 The High Court held that the Tribunal's decision to delete the Rs. 15,300 addition as income from undisclosed sources was not justified. The burden was on the assessee to prove the source of unexplained cash credits, which they failed to do. The Tribunal's assumption that the cash credits were covered by estimated business income was deemed legally unwarranted. The court ruled against the assessee, emphasizing that without setting aside the Income Tax Officer's finding, the Tribunal had no basis to conclude the addition was covered by intangible additions to income. Each party was directed to bear their own costs. en-us Thu, 24 Jan 1980 00:00:00 +0530 Sat, 20 Mar 2010 11:40:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=36230 The High Court held that the Tribunal's decision to delete the Rs. 15,300 addition as income from undisclosed sources was not justified. The burden was on the assessee to prove the source of unexplained cash credits, which they failed to do. The Tribunal's assumption that the cash credits were covered by estimated business income was deemed legally unwarranted. The court ruled against the assessee, emphasizing that without setting aside the Income Tax Officer's finding, the Tribunal had no basis to conclude the addition was covered by intangible additions to income. Each party was directed to bear their own costs. Case-Laws Income Tax Thu, 24 Jan 1980 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=36230