https://www.taxtmi.com/caselaws?id=38010 The Tribunal justified deleting the addition of income from undisclosed sources by accepting the assessee's explanation that the disputed amount stemmed from intangible additions made in previous years. The Appellate Tribunal considered this evidence reasonable, leading to the deletion of the Rs. 71,977 addition. The High Court decision supported this stance, affirming that income added in prior assessments is considered available for investment in subsequent years. Therefore, the court upheld the Tribunal's decision, aligning with the principle that income from intangible sources in past assessments is deemed real income accessible to the assessee. en-us Tue, 21 Mar 1978 00:00:00 +0530 Fri, 02 Apr 2010 15:23:54 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=38010 The Tribunal justified deleting the addition of income from undisclosed sources by accepting the assessee's explanation that the disputed amount stemmed from intangible additions made in previous years. The Appellate Tribunal considered this evidence reasonable, leading to the deletion of the Rs. 71,977 addition. The High Court decision supported this stance, affirming that income added in prior assessments is considered available for investment in subsequent years. Therefore, the court upheld the Tribunal's decision, aligning with the principle that income from intangible sources in past assessments is deemed real income accessible to the assessee. Case-Laws Income Tax Tue, 21 Mar 1978 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=38010