https://www.taxtmi.com/caselaws?id=337093 The Court ruled in favor of the assessee in a case involving the interpretation of sec 69A of the Income Tax Act, 1961. The Court considered the ownership of silver bars and the addition of unexplained investment, treating the confiscation loss as a business loss. This decision aligned with legal precedents, resulting in the quashing of the penalty order and remittance back to the Tribunal for a consolidated decision. en-us Tue, 22 Nov 2016 00:00:00 +0530 Mon, 02 Jan 2017 10:50:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=337093 The Court ruled in favor of the assessee in a case involving the interpretation of sec 69A of the Income Tax Act, 1961. The Court considered the ownership of silver bars and the addition of unexplained investment, treating the confiscation loss as a business loss. This decision aligned with legal precedents, resulting in the quashing of the penalty order and remittance back to the Tribunal for a consolidated decision. Case-Laws Income Tax Tue, 22 Nov 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=337093