https://www.taxtmi.com/caselaws?id=58195 The Tribunal determined that the seized cash of Rs. 3,90,000 belonged to the company rather than the individual assessee, a director of the company. Discrepancies in statements regarding cash receipt raised doubts about its source. Considering the nature of the company's business and the roles of directors, the Tribunal concluded that the cash was accounted for in the company's books. As a result, the addition of income from undisclosed sources was deleted, and the appeal was allowed, with other components added to the assessee's income also discussed and resolved in favor of the assessee. en-us Tue, 29 Nov 1988 00:00:00 +0530 Fri, 17 Dec 2010 17:42:27 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=58195 The Tribunal determined that the seized cash of Rs. 3,90,000 belonged to the company rather than the individual assessee, a director of the company. Discrepancies in statements regarding cash receipt raised doubts about its source. Considering the nature of the company's business and the roles of directors, the Tribunal concluded that the cash was accounted for in the company's books. As a result, the addition of income from undisclosed sources was deleted, and the appeal was allowed, with other components added to the assessee's income also discussed and resolved in favor of the assessee. Case-Laws Income Tax Tue, 29 Nov 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=58195