https://www.taxtmi.com/caselaws?id=68069 The Tribunal remanded the case to the ITO for re-examination of the ownership of foreign exchange seized from the assessee's briefcase, emphasizing the need for conclusive evidence of ownership and consideration of the company from whose premises the currency was found. The inclusion of Rs. 7,000 belonging to the assessee's wife in the assessee's income was to be verified by the ITO based on the AAC's decision. The plea of bona fide belief regarding interest charges was to be considered if a waiver petition was filed, resulting in the appeal being allowed for statistical purposes. en-us Fri, 28 Oct 1988 00:00:00 +0530 Wed, 16 Mar 2011 17:25:33 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68069 The Tribunal remanded the case to the ITO for re-examination of the ownership of foreign exchange seized from the assessee's briefcase, emphasizing the need for conclusive evidence of ownership and consideration of the company from whose premises the currency was found. The inclusion of Rs. 7,000 belonging to the assessee's wife in the assessee's income was to be verified by the ITO based on the AAC's decision. The plea of bona fide belief regarding interest charges was to be considered if a waiver petition was filed, resulting in the appeal being allowed for statistical purposes. Case-Laws Income Tax Fri, 28 Oct 1988 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68069