2017 (2) TMI 741 - SCH - Income Tax

Unexplained investment - borrowing from son-in-law - Proof of salary and possession of jewellery and the sale of it - Held that - Assessee had not discharged the burden as regards the source from which the investment had been made. Unreliability of the claim made by the assessee as regards the receipt of money from her son-in-law. HC ref case 2013 (7) TMI 202 - MADRAS HIGH COURT - Decided against assessee

Summary

The Supreme Court dismissed the Special Leave Petition as no legal grounds were found for interference. The judgment was delivered by Justices Ranjan Gogoi and Ashok Bhushan.