https://www.taxtmi.com/caselaws?id=28172 Section 69A applies only where the assessee is proved to be the owner of money, bullion, jewellery or other valuable article; mere possession of contraband gold is not enough to infer ownership. Section 110 of the Evidence Act cannot, by itself, shift the burden to the assessee where there is no supporting material showing ownership or trade in gold. On those facts, the addition under section 69A was unsustainable. A separate claim for confiscation loss as business loss also failed because the amount had been assessed as income from other sources, not as business income. en-us Tue, 03 Aug 1982 00:00:00 +0530 Fri, 19 Feb 2010 13:57:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28172 Section 69A applies only where the assessee is proved to be the owner of money, bullion, jewellery or other valuable article; mere possession of contraband gold is not enough to infer ownership. Section 110 of the Evidence Act cannot, by itself, shift the burden to the assessee where there is no supporting material showing ownership or trade in gold. On those facts, the addition under section 69A was unsustainable. A separate claim for confiscation loss as business loss also failed because the amount had been assessed as income from other sources, not as business income. Case-Laws Income Tax Tue, 03 Aug 1982 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28172