https://www.taxtmi.com/caselaws?id=434561 The High Court allowed the Revenue's appeal, finding that the loss claimed by the assessee of 99.055 kgs of gold was not adequately substantiated. The Court held that the burden of proof lay with the assessee, which was not satisfactorily discharged. The ITAT's decision was set aside, and the Assessing Officer's decision was restored, as the explanations provided were unsupported by evidence. en-us Fri, 10 Feb 2023 00:00:00 +0530 Mon, 27 Feb 2023 08:16:03 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=434561 The High Court allowed the Revenue's appeal, finding that the loss claimed by the assessee of 99.055 kgs of gold was not adequately substantiated. The Court held that the burden of proof lay with the assessee, which was not satisfactorily discharged. The ITAT's decision was set aside, and the Assessing Officer's decision was restored, as the explanations provided were unsupported by evidence. Case-Laws Income Tax Fri, 10 Feb 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=434561