https://www.taxtmi.com/caselaws?id=289312 An assessee found in possession of gold failed to satisfactorily explain its ownership and the source of the funds used to acquire it. Because the source of the investment lay within his special knowledge and his explanation was rejected on facts, the Court held that the unexplained value could be treated as income from undisclosed sources. The reasoning aligned with the principle reflected in section 69 of the Income-tax Act, 1961, under which unexplained investments may be deemed taxable income. The question was answered against the assessee and in favour of the Department. en-us Thu, 24 Aug 1967 00:00:00 +0530 Fri, 24 Jul 2020 16:18:17 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=289312 An assessee found in possession of gold failed to satisfactorily explain its ownership and the source of the funds used to acquire it. Because the source of the investment lay within his special knowledge and his explanation was rejected on facts, the Court held that the unexplained value could be treated as income from undisclosed sources. The reasoning aligned with the principle reflected in section 69 of the Income-tax Act, 1961, under which unexplained investments may be deemed taxable income. The question was answered against the assessee and in favour of the Department. Case-Laws Income Tax Thu, 24 Aug 1967 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=289312