Supreme Court · 1986 INSC 50 · Decided 19 March 1986
Commissioner of Income-Tax, Orissa v. Orissa Corporation (P) LTD.
- Court
- Supreme Court of India
- Citation
- 1986 INSC 50 · [1986] 1 S.C.R. 979
- Case number
- CIVIL APPEAL No. 1379/1974
- Decided
- 19 March 1986
- Bench
- R.S. PATHAK, SABYASACHI MUKHERJI (2-judge bench)
- Outcome
- Dismissed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 68, 256(2), 131
Headnote
Income Tax Act 1961-ss.68 and 256(2) - Cash credits in books of assessee - Onus of proof about source of income. High Court refusing to direct Tribunal to state case - A B When valid. C Interference with findings of fact by the Tribunal - Permissible under what circumstances. For the accounting year 1962-63, the Income-tax D Officer did not accept the assessee 's accounts showing cub credit of Rs.1,50,000 said to have been received by way of loans from three individual creditors. He produced before the Incmae-tax Officer, discharged hundies and confirmation letters from these
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