1990 (8) TMI 83

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..... ") on the following question of law: "Whether or not, under the facts and circumstances of the case, the Tribunal was justified in sustaining the addition of Rs. 53,500 made under the head 'Income from undisclosed Sources' on the ground that the money was not spent by the two sons in their individual capacity ?" The assessee is a Hindu undivided family having the father as karta. His two sons .....

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..... of money has flown from the family funds." Mr. S. N. Ratho, learned counsel for the assessee, submitted that there is no presumption in law that property standing in the name of individual members has been purchased from out of the joint family funds. In this case, the two sons in whose names the property stands have clearly asserted that they are solvent to the tune of the amount invested for p .....

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..... When the assessee filed the affidavits of the sons, it was obligatory for it to file clear acceptable materials wherefrom only the inference could have been drawn that the two sons purchased the properties from their own funds. This fact was within their knowledge. Non-disclosure of fact which is within their knowledge makes those documents unacceptable. There being no other source for the sons, a .....

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