CIT v. Devi Prasad Vishwanath Prasad

72 ITR 194Supreme Court of India1969#292 most cited

What is CIT v. Devi Prasad Vishwanath Prasad authority for?

If there is an unexplained cash credit, the Assessing Officer can treat it as the assessee's income, even when the income is finalized on an estimation basis, without proving its specific source. The onus then shifts to the assessee to prove that the income represented by the cash credit has already been taxed.

272

judgments rely on this decision, according to BharatTax’s citation analysis of 366,369 Indian tax judgments — from 2009 to 2026.

Also referred to as

Devi Prasad Vishwanath Prasad · 72 ITR 194 · Section 68 · unexplained cash credit · onus of proof · estimated assessment · source of income · AO burden of proof · assessee's burden · income finalized on estimation · addition u/s 68

Sections most often in play

Section 68Section 143(3)Section 115BBESection 69ASection 145(3)Section 142(1)Section 144Section 143(2)

Issues it is cited on

section 106section 66creditworthiness of the creditoronus of proofpaper companysection 31source of sourcesection 251(2)share capital and share premiumrejection of books of accountaddition u/s 68section 145(3)

Judgments citing CIT v. Devi Prasad Vishwanath Prasad

Ssmt. Charu Aggarwal, Patiala vs. DCIT-CC, Patiala

In the result, appeals of both the assesses are allowed

ITA 310/CHANDI/2021[2017-18]Status: DisposedITAT Chandigarh25 Mar 2022AY 2017-18
For Appellant: Shri Sudhir Sehgal, AdvocateFor Respondent: Smt. Priyanka Dhar, Sr. DR
Section 143(3)

…Vs Dilip Kumar Swami as reported in 106 taxmann.com 59(Raj) • ITO Vs Sh. Pavan Kumar Bhagatram Sharma (ITAT Ahm) • Kishore Jeram Bhai Khaniya Prop. M/s Poonam Enterprises Vs ITO, in ITA No. 1220/Del/2011 (ITAT Del) • CIT vs Devi Prasad Vishwnath Prasad (1969) 72 ITR 194 (SC) • CIT vs. Durga Prasad More (1969) 72 ITR 807 (SC) • Smt. HarshilaChordiavs ITO (2008) 298 ITR 349 (Raj) • M/s Heera Steel Limited vs. ITO (2005) 4 ITJ 437 (Nag) • CIT vs. Ghai Lime Stone Co. (1983) 144 ITR 140(MP) • R.B. Jessaram Fatehchand (Sugar Dept.) v. CIT reported at [1970] 75 ITR 33 (BOM.) • M. Durai Raj v. CIT [1972] 83 ITR 484 (Kera…

Principal Commissioner of Income Tax 1 Kolkata vs. M/S Apeejay Shipping Ltd

In the result, these appeals are allowed and the substantial

ITA/26/2021HC Calcutta08 Dec 2021

Bench: HON'BLE JUSTICE T. S. SIVAGNANAM,HON'BLE JUSTICE HIRANMAY BHATTACHARYYA

…ed in ITA NO. 120 of 2012 dated 07.01.2013 wherein it was held as follows:- ITAT NO. 06 OF 2022 AND ETC. BATCH Page 137 of 150 This principle was reiterated by the Supreme Court in Commissioner of Income Tax v. Devi Prasad Vishwanath Prasad, (1969) 72 ITR 194 wherein Shah, J (as His Lordship then was) held as follows: “The question again assumes that it was for the Income-Tax Officer to indicate the source of the income before the income could be held taxable and unless he did so, the assessee was entitled to succeed. That is not, in our judgment, the correct legal position. Where there is an exp…

M/S. Hindustan Marble and Granite, Bangalore vs. The Assistant Commissioner of Income Tax, Central Circle - 2(1), Bangalore

In the result, the appeal filed by the assessee is allowed

ITA 871/BANG/2019[2015-16]Status: DisposedITAT Bangalore18 Nov 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year: 2015-16

For Appellant: Shri L. Bharath, A.RFor Respondent: Shri Priyadarshi Mishra, D.R
Section 132Section 139(1)

…ITA No.871/Bang/2019 M/s. Hindustan Marble and Granit, Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “B’’BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year: 2015-16 M/s. Hindustan Marble and Granite No.5, Lalbagh Road, ACIT Wilson Garden Vs. Central Circle-2(1) Bangalore 560 027 Bangalore PAN NO :AAAFH8437Q APPELLANT RESPONDENT Appellant by : Shri L. Bharath, A.R. Respondent by : Shri Priyadarshi Mishra, D.R. Date of Hearing : 02.11.2021 Date of Pronouncement : 18.11.2021 O R D E R PER B.R. BASKARAN, ACCOUNTANT MEMBER: The assessee has…

M/S.Asit Dixit, Jabalpur vs. Income Tax Officer Ward2(2), Jabalpur

In the result, the assessee’s appeal is partly allowed for statistical purposes

ITA 19/JAB/2020[2005-06]Status: DisposedITAT Jabalpur07 Oct 2021AY 2005-06

Bench: Sh. Sanjay Arora, Hon'Bleassessment Year : 2005-06 Asit Dixit, Income Tax Officer, Vs. Ward-2(2), Jabalpur (M.P.) Jabalpur [Pan: Aanfm 5798A] (Appellant) (Respondent) Appellant By Sh. Sanjay Seth, Ca Respondent By Sh. S.K. Halder, Sr. Dr Date Of Hearing 16/09/2021 Date Of Pronouncement 07/10/2021

Section 142(1)Section 143(2)Section 144Section 145(3)

…garding a credit in the books of the business as unexplained and, thus, as its’ income, as explained by the Apex Court per its’ decisions, as in Kale Khan Mohd. Hanif v. CIT [1963] 6 Asit Dixit v. ITO 50 ITR 1 (SC); CIT v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194 (SC). This legal aspect, though to be fair was not canvassed before me, is yet clarified in view of it continuing to be raised before the Tribunal. In fact, irrespective of a pleading being assumed by either party before it, the Tribunal is duty bound to decide an appeal, being a continuation of the assessment proceedings, in accordance with law.…

DCIT, New Delhi vs. M/S. Jaguar Buildcon Pvt. Ltd., New Delhi

In the result, both the appeals of the Revenue are dismissed

ITA 284/DEL/2015[2012-13]Status: DisposedITAT Delhi31 Aug 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Ms. Sunita Singh, CIT-DRFor Respondent: Shri Rakesh Joshi, CA
Section 127Section 132Section 133(6)Section 139(1)Section 143(1)Section 153ASection 68

…the assessment order has been quoted by the AO in the most confusing manner. The first two paras given thereunder and the gist of cases reproduced thereafter which have been referred to in the above judgment i.e. of CIT v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194(SC), CIT v. M. Ganapathi Mudaliar [1964] 53 ITR 623(SC)/A. Govindarajulu Mudaliar v. CIT [1958] 34 ITR 807 (SC) only pertain to the cited case of CIT v. Nipun Builders & Developers Pvt. Ltd. All other cases mentioned under the broad head ‘Nipun Builders & Developers Pvt. Ltd.’ were not part of the said judgment and have been mentioned here creatin…

DCIT, New Delhi vs. M/S. Jaguar Buildcon Pvt. Ltd., New Delhi

In the result, both the appeals of the Revenue are dismissed

ITA 283/DEL/2015[2011-12]Status: DisposedITAT Delhi31 Aug 2021AY 2011-12

Bench: Shri Amit Shukla & Shri Prashant Maharishi

For Appellant: Ms. Sunita Singh, CIT-DRFor Respondent: Shri Rakesh Joshi, CA
Section 127Section 132Section 133(6)Section 139(1)Section 143(1)Section 153ASection 68

…the assessment order has been quoted by the AO in the most confusing manner. The first two paras given thereunder and the gist of cases reproduced thereafter which have been referred to in the above judgment i.e. of CIT v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194(SC), CIT v. M. Ganapathi Mudaliar [1964] 53 ITR 623(SC)/A. Govindarajulu Mudaliar v. CIT [1958] 34 ITR 807 (SC) only pertain to the cited case of CIT v. Nipun Builders & Developers Pvt. Ltd. All other cases mentioned under the broad head ‘Nipun Builders & Developers Pvt. Ltd.’ were not part of the said judgment and have been mentioned here creatin…

Shri Prince Rai, Damoh vs. Income Tax Officer, Damoh

In the result, the appeal by the assessee is allowed for statistical purposes

ITA 145/JAB/2018[2009-10]Status: DisposedITAT Jabalpur22 Jul 2021AY 2009-10

Bench: Sh. Sanjay Arora, Hon'Bleassessment Year : 2009-10 Prince Rai, Income Tax Officer, Vs. Ward - Damoh Damoh (M.P.) (M.P.) [Pan: Ahlpr 7469N] (Appellant) (Respondent) Appellant By Sh. H.S. Modh, Adv. Respondent By Smt. Swati Agarwal, Sr. Dr Date Of Hearing 14/07/2021 Date Of Pronouncement 22/07/2021

Section 143(3)Section 250(6)

…sed sources simply because the entries appeared in the books of the business whose income they had previously computed on a percentage basis. Reference in this context may with profit be also made to the decision in CIT v. Devi Prasad Vishwanath Prasad [1969] 72 ITR 194 (SC). The position, as apparent, would be akin to, 9 Prince Rai v. ITO say, that of a disallowance of an expenditure for want of genuineness despite the assessee’s accounts bearing an entry in its respect. This aspect stands also clarified by the Apex Court in A. Krishnaswami Mudaliar (supra) in the following words: ‘If, therefore, there is a sys…

The Assistant Commissioner of Income Tax, Central Circle-1, Visakhapatnam vs. Hirapanna Jewellers, Visakhapatnam

In the result, appeal of the revenue as well as the cross objection of the assessee are dismissed

ITA 253/VIZ/2020[2017-18]Status: DisposedITAT Visakhapatnam12 May 2021AY 2017-18

Bench: Shri N.K.Choudhry, Hon’Ble & Shri D.S. Sunder Singh, Hon’Bleआयकर अपील सं./I.T.A.No.253/Viz/2020 (निर्धारण वर्ा/Assessment Year:2017-18) Asst.Commissioner Of Vs. M/S Hirapanna Jewellers Income Tax, D.No.48-19-5, Opp:Apsrtc Central Circle-1 Commercial Complex, Visakhapatnam Dwaraka Nagar Visakhapatnam [Pan : Aaifh2606M] (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) Cross Objection No.02/Viz/2021 (Arising Out Of I.T.A. No.253/Viz/2020) (निर्धारण वर्ा/Assessment Year:2017-18) M/S Hirapanna Jewellers Vs. Asst.Commissioner Of D.No.48-19-5, Opp:Apsrtc Income Tax, Commercial Complex, Dwaraka Nagar Central Circle-1 Visakhapatnam Visakhapatnam [Pan : Aaifh2606M]

For Appellant: Shri G.V.N. Hari, AdvocateFor Respondent: Shri D.K. Sonowal, CIT DR
Section 133ASection 68

…of coordinate bench of ITAT in J.M.J. Essential Oil Company Vs. ITO, the decision of Hon’ble Supreme Court of India in the case of Kale Khan Mohammad Hanif [1963] 50 ITR 1 (SC), CIT Vs. P.Mohanakala, 161 Taxman 169 (SC), CIT Vs. Devi Prasad Vishwanath Prasad, 72 ITR 194 SC,, the decision of Hon’ble High Court of Bombay & Goa in CIT Karnataka (Central), Bangalore Vs. Sadiq Sheikh, Tax Appeal No.18 of 9 I.T.A. No.253/Viz/2020 and CO No.02/Viz/2021, A.Y.2017-18 M/s Hirapanna Jewellers, Visakhapatnam 2014, the decision of High Court of Kerala in Oceanic Products Exporting Co. Vs. CIT, 241 ITR 495 (Kerala), Anil Kuma…

Kasper Information Technology Pvt. Ltd., New Delhi vs. ITO Ward-14(2), New Delhi

ITA 9357/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ITO Ward - 14(2), New Delhi vs. Kasper Information Technology Pvt Ltd, New Delhi

ITA 9287/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ITO Ward - 13(3), New Delhi vs. Jingle Bells Aluminium Pvt. Ltd., New Delhi

ITA 5527/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

Jingle Bells Aluminium, New Delhi vs. ITO Ward - 13(3), New Delhi

ITA 5397/DEL/2019[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

Kasper Information Technology P.Ltd, New Delhi vs. ITO, Ward-14(2), New Delhi

ITA 510/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

Landsky Real Estates P.Ltd, New Delhi vs. ITO, Ward-15(1), New Delhi

ITA 509/DEL/2019[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ITO, Ward-7(1), New Delhi vs. Delight Resorts P.Ltd, Ghaziabad

ITA 6401/DEL/2017[2014-15]Status: DisposedITAT Delhi18 Mar 2021AY 2014-15

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ITO, Ward-7(1), New Delhi vs. Delight Resorts P.Ltd, New Delhi

ITA 5974/DEL/2017[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

M/S Globus Real Infra Pvt. Ltd., New Delhi vs. DCIT, New Delhi

ITA 2920/DEL/2017[2013-14]Status: DisposedITAT Delhi18 Mar 2021AY 2013-14

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ACIT, New Delhi vs. M/S. Star Light Consumer Electronics Pvt. Ltd., New Delhi

ITA 6070/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ACIT, New Delhi vs. M/S. Superstar Agency Pvt. Ltd., New Delhi

ITA 5832/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…

ACIT, New Delhi vs. M/S. Sur Buildcon Pvt. Ltd., New Delhi

ITA 5831/DEL/2016[2012-13]Status: DisposedITAT Delhi18 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishi

…mpliance of 131 and V CIT (1982) 140 ITR 151 133(6) (Page 38 – CIT(A) (All.) order). • R Dalmia V CIT (1976) 113  Neither any person has ITR 522 (Del.) given any statement nor • CIT V Debi Prasad has made any allegation Vishwanath Prasad (1968) against these 72 ITR 194 (SC) companies(Page 38 – • CIT V Hero Cycles Pvt Ltd. CIT(A) order) • CIT V Stepwell Industries Ltd  The reasons given by AO and Others. are very generic in nature • SumatiDayal V CIT (1995) and not backed by any 214 ITR 801 (SC) concrete evidence(Page 38 • CGT V Dr. George Kuruvilla – CIT(A) order). (1969) 74 ITR 328 (SC)  There was no cash dep…