TMI Blog1958 (9) TMI 3X X X X Extracts X X X X X X X X Extracts X X X X ..... for the position that where an assessee fails to prove satisfactorily the source and nature of certain amount of cash received during the accounting year, the Income-tax Officer is entitled to draw the inference that the receipts are of an assessable nature. The conclusion to which the Appellate Tribunal came appears to us to be amply warranted by the facts of the case. There is no ground for interfering with that finding, and these appeals are accordingly dismissed with costs. - - - - - Dated:- 24-9-1958 - Judge(s) : A. K.SARKAR., GAJENDRAGADKAR., VENKATARAMA AIYAR JUDGMENT The judgment of the court was delivered by VENKATARAMA AIYAR, J.---These are appeals by special leave against the decision of the Income-tax Appellate ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rofits in which he had a share and that came to Rs. 42,000. This story was rejected by the Income-tax Officer. Both the explanations of the appellant having been rejected, the Income-tax Officer held that the amounts in question represented concealed income and imposed tax thereon. The appellant appealed to the Appellate Assistant Commissioner who again, on an investigation of the facts, agreed with the conclusions of the Income-tax Officer. The appellant took the matter in further appeal to the Appellate Tribunal and by its judgment, dated January 29, 1953, the Tribunal confirmed the decision of the Appellate Assistant Commissioner. It elaborately examined the evidence as to the gift of Rs. 80,000 which was alleged to have been made by the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... at the amounts in question were income received or accrued during the previous year, that it was the duty of the Department to adduce evidence to show from what source the income was derived and why it should be treated as concealed income. In the absence of such evidence, it is argued, the finding is erroneous. We are unable to agree. Whether a receipt is to be treated as income or not, must depend very largely on the facts and circumstances of each case. In the present case the receipts are shown in the account books of a firm of which the appellant and Govindaswamy Mudaliar were partners. When he was called upon to give explanation he put forward two explanations, one being a gift of Rs. 80,000 and the other being receipt of Rs. 42,000 f ..... X X X X Extracts X X X X X X X X Extracts X X X X
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