https://www.taxtmi.com/caselaws?id=28205 Sale proceeds of old gold ornaments may be treated as income from undisclosed sources where the assessee fails to establish that the ornaments belonged to him or were otherwise his property. The note explains that mere proof of cash realisation is insufficient; the assessee must support the source and ownership of the asset sold. The Tribunal's inference was supported by surrounding circumstances, including an unsatisfactory explanation for the sale, borrowing activity, acquisition of properties, and unreliability in relation to other financial explanations. On that material, the amount could be brought to tax as 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 of old gold ornaments may be treated as income from undisclosed sources where the assessee fails to establish that the ornaments belonged to him or were otherwise his property. The note explains that mere proof of cash realisation is insufficient; the assessee must support the source and ownership of the asset sold. The Tribunal's inference was supported by surrounding circumstances, including an unsatisfactory explanation for the sale, borrowing activity, acquisition of properties, and unreliability in relation to other financial explanations. On that material, the amount could be brought to tax as undisclosed income. Case-Laws Income Tax Fri, 14 Jan 1983 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=28205