https://www.taxtmi.com/caselaws?id=216101 A mere Budget Speech or proposed gold immunity scheme could not confer exemption where no definite enactment existed at the time of import. The assessee also failed to prove a credible nexus between the imported gold and the later Gold Bonds investment, and did not satisfactorily explain the source or prolonged retention of the gold. On those facts, the Tribunal's view that the amount represented an unexplained investment in gold was upheld, and the claimed immunity under the Gold Bonds framework was rejected. en-us Fri, 10 Aug 2012 00:00:00 +0530 Tue, 28 Aug 2012 10:33:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=216101 A mere Budget Speech or proposed gold immunity scheme could not confer exemption where no definite enactment existed at the time of import. The assessee also failed to prove a credible nexus between the imported gold and the later Gold Bonds investment, and did not satisfactorily explain the source or prolonged retention of the gold. On those facts, the Tribunal's view that the amount represented an unexplained investment in gold was upheld, and the claimed immunity under the Gold Bonds framework was rejected. Case-Laws Income Tax Fri, 10 Aug 2012 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=216101