https://www.taxtmi.com/caselaws?id=27695 The High Court of Bombay reframed the issue to determine whether the sum of Rs. 2,55,500, representing the value of seized gold, was taxable in the assessee's hands. The court criticized the Tribunal for not providing adequate factual findings to establish ownership, emphasizing the importance of considering the assessee's conduct, explanations, and burden of proof on the Department. The court returned the reference to the Tribunal for proper reconsideration, highlighting the significance of factual findings in determining tax liability. en-us Wed, 05 Oct 1983 00:00:00 +0530 Mon, 15 Feb 2010 14:05:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=27695 The High Court of Bombay reframed the issue to determine whether the sum of Rs. 2,55,500, representing the value of seized gold, was taxable in the assessee's hands. The court criticized the Tribunal for not providing adequate factual findings to establish ownership, emphasizing the importance of considering the assessee's conduct, explanations, and burden of proof on the Department. The court returned the reference to the Tribunal for proper reconsideration, highlighting the significance of factual findings in determining tax liability. Case-Laws Income Tax Wed, 05 Oct 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=27695