https://www.taxtmi.com/caselaws?id=67227 The Tribunal upheld the addition of Rs. 3,49,225 under Section 69A of the Income-tax Act, 1961, as the assessee failed to provide a satisfactory explanation for the possession of 125.44 kgs. of silver. The Tribunal found the evidence related to the alleged purchase from Rashid & Co. unreliable, the Amanat Bahi not maintained as regular books of account, and the opportunity to present evidence was deemed sufficient. Compliance with principles of natural justice was upheld, and even if Section 69A did not apply, the unexplained possession of silver was treated as undisclosed income. The assessee's appeal was dismissed. en-us Mon, 11 Jan 1988 00:00:00 +0530 Wed, 09 Mar 2011 15:59:47 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=67227 The Tribunal upheld the addition of Rs. 3,49,225 under Section 69A of the Income-tax Act, 1961, as the assessee failed to provide a satisfactory explanation for the possession of 125.44 kgs. of silver. The Tribunal found the evidence related to the alleged purchase from Rashid & Co. unreliable, the Amanat Bahi not maintained as regular books of account, and the opportunity to present evidence was deemed sufficient. Compliance with principles of natural justice was upheld, and even if Section 69A did not apply, the unexplained possession of silver was treated as undisclosed income. The assessee's appeal was dismissed. Case-Laws Income Tax Mon, 11 Jan 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=67227