M/S MORANI CARS PVT. LTD.,JAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX, WARD-6, JAIPUR

In the result the appeal of the assessee is partly allowed

68 of the Act. 30. Where an assessee has filed to prove satisfactorily the source and nature of certain amounts of cash received during the accounting year, the assessing Officer is entitled to draw the inference that the receipts are of an income nature and it is not necessary for him to locate their exact source. As the Supreme Court