https://www.taxtmi.com/caselaws?id=37223 The High Court upheld the Tribunal's decision that the loan of Rs. 10,000 obtained by the assessee from Sri Surana constituted income from undisclosed sources. Despite the assessee's arguments regarding the reframing of the question referred under the Income Tax Act, the court found in favor of the revenue based on the lack of satisfactory evidence provided by the assessee to prove the genuineness of the loan transaction. The court's decision aligned with established legal precedents, resulting in a ruling in favor of the revenue without awarding costs to either party. en-us Mon, 26 May 1975 00:00:00 +0530 Sat, 27 Mar 2010 15:23:02 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=37223 The High Court upheld the Tribunal's decision that the loan of Rs. 10,000 obtained by the assessee from Sri Surana constituted income from undisclosed sources. Despite the assessee's arguments regarding the reframing of the question referred under the Income Tax Act, the court found in favor of the revenue based on the lack of satisfactory evidence provided by the assessee to prove the genuineness of the loan transaction. The court's decision aligned with established legal precedents, resulting in a ruling in favor of the revenue without awarding costs to either party. Case-Laws Income Tax Mon, 26 May 1975 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=37223