https://www.taxtmi.com/caselaws?id=287742 Declaration of jewellery under the Voluntary Disclosure of Income Scheme established possession and acquisition, but it did not by itself prove the genuineness of the later sale. An affidavit from the purchaser was held insufficient unless supported by independent documentary evidence, and the burden remained on the assessee to prove actual sale and receipt of consideration. The revenue was not required to prove continued possession after the alleged sale. Earlier group orders were not treated as conclusive because each case required independent examination. The matter was remanded to the Assessing Officer to verify the genuineness of the jewellery sale afresh after giving due opportunity to the assessee. en-us Thu, 31 May 2018 00:00:00 +0530 Thu, 30 Apr 2020 10:23:23 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=287742 Declaration of jewellery under the Voluntary Disclosure of Income Scheme established possession and acquisition, but it did not by itself prove the genuineness of the later sale. An affidavit from the purchaser was held insufficient unless supported by independent documentary evidence, and the burden remained on the assessee to prove actual sale and receipt of consideration. The revenue was not required to prove continued possession after the alleged sale. Earlier group orders were not treated as conclusive because each case required independent examination. The matter was remanded to the Assessing Officer to verify the genuineness of the jewellery sale afresh after giving due opportunity to the assessee. Case-Laws Income Tax Thu, 31 May 2018 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=287742