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1 - 10 of 26 (0.39 seconds)Section 11 in The Income Tax Act, 1961 [Entire Act]
The Income Tax Act, 1961
Section 132 in The Income Tax Act, 1961 [Entire Act]
Section 12AA in The Income Tax Act, 1961 [Entire Act]
Section 80G in The Income Tax Act, 1961 [Entire Act]
Coimbatore Spinning & Weaving Co. Ltd. vs Commissioner Of Income-Tax on 30 March, 1973
It is true that the decisions referred to above establish the position that it is for the revenue to show that a particular receipt is an income, that whether the explanation given by the assessee as to the source of that receipt is acceptable or not is primarily a matter for the Tribunal and that the explanation of the assessee as to the source from which the receipts had been obtained had to be considered in the light of all the facts and circumstances. The assessee, relying upon these decisions, points out that the Tribunal was not justified in drawing the inference that the excess stocks of cotton should represent the assessee's income, merely because the assessee's explanation that there were no excess stocks was not acceptable.