https://www.taxtmi.com/caselaws?id=63197 The ITAT DELHI-A allowed the appeal in a case involving reassessment proceedings challenging the addition made under section 69 of the IT Act. The dispute centered on the ownership and taxation of seized gold. The ITAT concluded that the seized gold should be considered as the assessee's income for the financial year 1975-76 under section 69A, not for the assessment year 1977-78 as contended by the Departmental Representative. As a result, the value of the seized gold was directed to be excluded from the total income of the assessee. en-us Fri, 27 Jan 1989 00:00:00 +0530 Fri, 28 Jan 2011 13:30:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=63197 The ITAT DELHI-A allowed the appeal in a case involving reassessment proceedings challenging the addition made under section 69 of the IT Act. The dispute centered on the ownership and taxation of seized gold. The ITAT concluded that the seized gold should be considered as the assessee's income for the financial year 1975-76 under section 69A, not for the assessment year 1977-78 as contended by the Departmental Representative. As a result, the value of the seized gold was directed to be excluded from the total income of the assessee. Case-Laws Income Tax Fri, 27 Jan 1989 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=63197