https://www.taxtmi.com/caselaws?id=11975 For section 69A, ownership can be attributed only to money actually found in an assessee's possession; amounts recovered from another person cannot be added in the assessee's hands unless the Department proves that the assessee owned them. The burden of establishing such ownership lies on the Department, and the addition is confined to the sum actually recovered from the assessee. On deduction, a solitary smuggling incident was not treated as an established business activity, so the confiscated amount was not allowable as business expenditure or business loss under section 37. The illegal and speculative nature of the activity did not support a deduction. en-us Thu, 30 Jan 2003 00:00:00 +0530 Sun, 14 Feb 2010 10:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=11975 For section 69A, ownership can be attributed only to money actually found in an assessee's possession; amounts recovered from another person cannot be added in the assessee's hands unless the Department proves that the assessee owned them. The burden of establishing such ownership lies on the Department, and the addition is confined to the sum actually recovered from the assessee. On deduction, a solitary smuggling incident was not treated as an established business activity, so the confiscated amount was not allowable as business expenditure or business loss under section 37. The illegal and speculative nature of the activity did not support a deduction. Case-Laws Income Tax Thu, 30 Jan 2003 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=11975