Tag Archives: concealed income

High denomination notes represent concealed income ? Burden of Proof

By | November 19, 2016

“Whether there was any material for the finding given by the Tribunal that out of 21 high denomination notes, which were exchanged by the assessee, 13 represented income of the assessee from some undisclosed source.” Held The burden is upon the department to prove that high denomination notes represent the concealed income of an assessee… Read More »