TMI Blog1966 (8) TMI 24X X X X Extracts X X X X X X X X Extracts X X X X ..... he Income-tax Appellate Tribunal dealt with two appeals relating to the assessments for the two years 1958-59 and 1959-60 by a common order. For the year 1958-59, additions have been made to the income because of certain unexplained cash credits found in the account books of the assessee pertaining to the relevant period of account. The total of these additions for the year of assessment 1958-59 came to Rs. 12,500. There was a further addition of Rs. 8,000 on estimate. For the year 1959-60 certain cash credits totalling a sum of Rs. 37,500 was found in the accounts of the assessee in the period of account relating to the year of assessment 1959-60. The ITO asked for an explanation of the assessee and after obtaining his explanation as well ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the income returned by the assessee on the basis of unexplained cash credits and also on the basis of estimated income from the business disclosed. We do not think that such a contention put foward at the stage at which it was put forward and which was inconsistent with the explanation given by the assessee earlier should necessarily be accepted by the Tribunal. It is well established that when cash credits are found in the account books of an assessee during the relevant period of account it is the assessee who should give satisfactory explanation in regard to those entries. This is as it should be, for the details regarding this are peculiarly and perhaps exclusively within the knowledge of the assessee. If the explanation given by the a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... have been referred to two decisions of the Madras High Court in S. Kuppuswami Mudaliar v. CIT reported in [1964] 51 ITR 757 and B. Abdul Quadir v. CIT reported in [1964] 52 ITR 364, We do not understand these decisions as laying down a principle that whenever an estimate had been made of income for any particular year the amount added by that estimate as income from the business disclosed and additions to income from undisclosed sources because of unexplained credits must be taken to be available with the assessee for being credited in a subsequent year of account. And that in all such cases it is for the department to establish that that amount was not available with the assessee. If these decisions imply the casting of any such burden on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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