https://www.taxtmi.com/caselaws?id=14629 HC upheld the Tribunal's decision that the value of confiscated gold must be included in the assessee's income under ss.69/69A/69B/69C where the nature and source of acquisition were not satisfactorily explained. Because the gold's value was deemed unexplained income and could not be classified under a specific head of income (such as business profits), the assessee was not entitled to treat its confiscation as a deductible trading loss. Questions answered against the assessee and for the Revenue. en-us Thu, 10 Aug 2000 00:00:00 +0530 Mon, 06 Oct 2025 19:51:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=14629 HC upheld the Tribunal's decision that the value of confiscated gold must be included in the assessee's income under ss.69/69A/69B/69C where the nature and source of acquisition were not satisfactorily explained. Because the gold's value was deemed unexplained income and could not be classified under a specific head of income (such as business profits), the assessee was not entitled to treat its confiscation as a deductible trading loss. Questions answered against the assessee and for the Revenue. Case-Laws Income Tax Thu, 10 Aug 2000 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=14629