https://www.taxtmi.com/caselaws?id=61278 An addition for income from undisclosed sources based on encashment of high denomination notes was deleted where the assessee's cash book entries were accepted and the employee's affidavit and statement explained that theatre collections were handed over in the ordinary course on the next day. In the absence of rebuttal evidence from the Revenue, the explanation of available business cash was treated as reasonably established, and mere suspicion or perceived inconsistency was held insufficient to support the addition. The impugned income addition was therefore set aside in favour of the assessee. en-us Tue, 09 Aug 1983 00:00:00 +0530 Wed, 12 Jan 2011 10:39:40 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=61278 An addition for income from undisclosed sources based on encashment of high denomination notes was deleted where the assessee's cash book entries were accepted and the employee's affidavit and statement explained that theatre collections were handed over in the ordinary course on the next day. In the absence of rebuttal evidence from the Revenue, the explanation of available business cash was treated as reasonably established, and mere suspicion or perceived inconsistency was held insufficient to support the addition. The impugned income addition was therefore set aside in favour of the assessee. Case-Laws Income Tax Tue, 09 Aug 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=61278