High Court of Karnataka Dismisses Revenue's Appeal in Income Tax Block Assessment Case — Unexplained Investments Not Established as Income from Undisclosed Sources. The court held that the Assessing Officer must demonstrate that the investment is not recorded in the books of account and that the assessee fails to explain the nature and source thereof to treat it as undisclosed income under Chapter XIV-B of the Income Tax Act, 1961.
25 Nov 2013The case involves two appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961, against the common order of the Income Tax Appellat...




