CIT v Rameshwar Dass Suresh Pal Cheeka (P & H) (08/12/2006)

Income Tax Act, 1961, s. 68 – Held, referred to the judgment of the Supreme Court on thisissue in Girdhari Lal Nannelal vs. Sales Tax Commissioner - Where a credit entry in respectof Rs.10,000/- stands in the name of the wife of the partner, no presumption arises that thesaid amount represents the income of the firm and not of the partner or his wife - The fact that neither the assessee firm nor its partner or his wife adduced satisfactory material to show the source of that money would not lead to the inference that the said sum represents theincome of firm accruing from undisclosed sale transactions – Petition Disposed Of.

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