https://www.taxtmi.com/caselaws?id=17070 Possession of gold articles recovered from an assessee's compound raises a presumption of ownership, shifting the burden to the assessee to prove another owner or acquisition in a different assessment year. Absent cogent rebuttal, the value is assessable as unexplained income under section 69A. Unlawful possession or contraband status does not negate ownership for tax purposes. The deletion of the addition was erroneous because the assessee neither displaced the presumption of ownership nor established acquisition outside the relevant year; the assessment addition for unexplained gold articles was restored in principle. en-us Fri, 06 Feb 1998 00:00:00 +0530 Tue, 15 Sep 2009 10:52:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=17070 Possession of gold articles recovered from an assessee's compound raises a presumption of ownership, shifting the burden to the assessee to prove another owner or acquisition in a different assessment year. Absent cogent rebuttal, the value is assessable as unexplained income under section 69A. Unlawful possession or contraband status does not negate ownership for tax purposes. The deletion of the addition was erroneous because the assessee neither displaced the presumption of ownership nor established acquisition outside the relevant year; the assessment addition for unexplained gold articles was restored in principle. Case-Laws Income Tax Fri, 06 Feb 1998 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=17070