https://www.taxtmi.com/caselaws?id=19759 The High Court affirmed the Tribunal's decision, ruling in favor of the Revenue and against the assessee in a case involving ownership of 150 bags of sugar found in the assessee's godown. The Court rejected the claim of a third party, emphasizing the importance of credible evidence and burden of proof. The decision highlighted the thorough analysis by the Tribunal, which found inconsistencies in statements and lack of concrete evidence supporting the third party's ownership, ultimately upholding the assessee's ownership of the sugar bags. en-us Fri, 05 Aug 1994 00:00:00 +0530 Mon, 09 Nov 2009 14:19:57 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=19759 The High Court affirmed the Tribunal's decision, ruling in favor of the Revenue and against the assessee in a case involving ownership of 150 bags of sugar found in the assessee's godown. The Court rejected the claim of a third party, emphasizing the importance of credible evidence and burden of proof. The decision highlighted the thorough analysis by the Tribunal, which found inconsistencies in statements and lack of concrete evidence supporting the third party's ownership, ultimately upholding the assessee's ownership of the sugar bags. Case-Laws Income Tax Fri, 05 Aug 1994 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=19759