9911796707
TMI Blog1969 (11) TMI 8X X X X Extracts X X X X X X X X Extracts X X X X ..... fruit growing trees. As a matter of fact, the assessee during the course of one assessment year claimed that the approximate income by sale of oranges and all nuts from such orchards, etc., was Rs. 3,000. During the assessment year 1950-51, the assessee after being served with a notice under section 22(2) of the Indian Income-tax Act, 1922, filed a nil return. The revenue, however, discovered that during the assessment year the assessee purchased a property bearing door No. 20, Godown Street, Madras, in the name of his wife, the total consideration for the purchase of which amounted to Rs. 2,61,935. When confronted with this purchase during the accounting year, the assessee gave an explanation that his wife purchased the property from fund ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eipts that there was nothing to substantiate them, that no details were available to show from whom and on what dates the various amounts had been realised or expended, that there were no accounts, balance-sheet or any other statement showing the assets and liabilities of the assessee, that the income shown in the statement as having come out of the coffee estates were merely an estimate and equally was the estate expenditure and that the statement did not include any personal expenses. Ultimately, he rejected the assessee's explanation and brought to tax such undisclosed income. In the second appeal before the Tribunal, the assessee was conscious of his limitations and in fact the learned counsel for the assessee, who argued his case befor ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... here are no accounts. The stories weaved out from time to time by the assessee are so weaved from his imagination and not from facts or any acceptable circumstances relating to the question under reference. The Tribunal finds that the figures furnished by the assessee are not supported by evidence and it is incredible as well to believe that such a large money was kept by the assessee intact with him without being banked or invested. According to the Tribunal, the assessee would stoop to any level to ward off the tax liability. The assessee tried to make out that the consideration for the purchase of the property belonged to his wife ; he failed. Then he changed his version and asserted that he had ample agricultural income from which sourc ..... X X X X Extracts X X X X X X X X Extracts X X X X
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