https://www.taxtmi.com/caselaws?id=28205 Sale proceeds from old gold ornaments may be treated as income from undisclosed sources where the taxpayer fails to establish ownership of the ornaments or otherwise prove that they were his property. Mere proof that cash was received on sale is insufficient. The claimed ownership by the taxpayer's wife was rejected, and surrounding circumstances-including an unsatisfactory sale explanation, borrowings, property acquisitions, and unreliable financial explanations-supported the Tribunal's finding that the proceeds represented undisclosed income. en-us Fri, 14 Jan 1983 00:00:00 +0530 Fri, 19 Feb 2010 16:44:28 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=28205 Sale proceeds from old gold ornaments may be treated as income from undisclosed sources where the taxpayer fails to establish ownership of the ornaments or otherwise prove that they were his property. Mere proof that cash was received on sale is insufficient. The claimed ownership by the taxpayer's wife was rejected, and surrounding circumstances-including an unsatisfactory sale explanation, borrowings, property acquisitions, and unreliable financial explanations-supported the Tribunal's finding that the proceeds represented undisclosed income. Case-Laws Income Tax Fri, 14 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28205