https://www.taxtmi.com/caselaws?id=366883 Gold coins found in the assessee's locker were treated as unexplained investment because no satisfactory material proved their source, and the explanation linked to family jewellery and wealth-tax disclosures did not cover the item actually found. Cash found at the residence and in the locker was also upheld as unexplained to the extent of Rs. 2 lakhs, as the claimed withdrawals and savings were unsupported by credible evidence. The addition of Rs. 50 lakhs found at the business premises was sustained because the assessee failed to prove the identity, creditworthiness and genuineness of the alleged payers, and telescoping was rejected since the additions arose from separate factual bases. The appeal was dismissed in full. en-us Fri, 07 Sep 2018 00:00:00 +0530 Wed, 12 Sep 2018 09:44:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=366883 Gold coins found in the assessee's locker were treated as unexplained investment because no satisfactory material proved their source, and the explanation linked to family jewellery and wealth-tax disclosures did not cover the item actually found. Cash found at the residence and in the locker was also upheld as unexplained to the extent of Rs. 2 lakhs, as the claimed withdrawals and savings were unsupported by credible evidence. The addition of Rs. 50 lakhs found at the business premises was sustained because the assessee failed to prove the identity, creditworthiness and genuineness of the alleged payers, and telescoping was rejected since the additions arose from separate factual bases. The appeal was dismissed in full. Case-Laws Income Tax Fri, 07 Sep 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=366883