https://www.taxtmi.com/caselaws?id=38006 The court upheld the Income Tax Officer's findings that the investment of Rs. 57,500 represented income from undisclosed sources for the assessment year in question. Despite the assessee's claims of the investment being from gifts and accumulated interest, the court found insufficient evidence to support this. Additionally, the court clarified that previous assessments do not preclude revenue authorities from independently examining the source of investments in subsequent years. The Tribunal's decision to treat the investment as the assessee's income was affirmed, and the assessee was directed to pay the costs of the reference. en-us Thu, 19 Jan 1978 00:00:00 +0530 Fri, 02 Apr 2010 15:16:55 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38006 The court upheld the Income Tax Officer's findings that the investment of Rs. 57,500 represented income from undisclosed sources for the assessment year in question. Despite the assessee's claims of the investment being from gifts and accumulated interest, the court found insufficient evidence to support this. Additionally, the court clarified that previous assessments do not preclude revenue authorities from independently examining the source of investments in subsequent years. The Tribunal's decision to treat the investment as the assessee's income was affirmed, and the assessee was directed to pay the costs of the reference. Case-Laws Income Tax Thu, 19 Jan 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38006