https://www.taxtmi.com/caselaws?id=49669 A finding that income represented undisclosed sources can be set aside where it rests on no evidence or on an inference no reasonable judicial authority could draw. Here, the accounts were accepted as genuine, and the entries with supporting affidavits provided a plausible explanation for possession and encashment of high denomination notes. The revenue's case proceeded on conjecture, with no challenge to the cash book entries and no discernible material supporting the figure attributed as concealed income. The result was that the addition could not stand, and the referred question was answered in favour of the assessee. en-us Thu, 10 May 1956 00:00:00 +0530 Mon, 09 Jan 2017 11:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=49669 A finding that income represented undisclosed sources can be set aside where it rests on no evidence or on an inference no reasonable judicial authority could draw. Here, the accounts were accepted as genuine, and the entries with supporting affidavits provided a plausible explanation for possession and encashment of high denomination notes. The revenue's case proceeded on conjecture, with no challenge to the cash book entries and no discernible material supporting the figure attributed as concealed income. The result was that the addition could not stand, and the referred question was answered in favour of the assessee. Case-Laws Income Tax Thu, 10 May 1956 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=49669