https://www.taxtmi.com/caselaws?id=781249 AO treated opening gold balance of 358.87 gms (valued at Rs 15,48,446) as unexplained u/s 69B. ITAT found the assessee partly discharged the onus by showing the amount in books but failed to furnish corroborative evidence (no wealth tax return), so the Revenue's complete disbelief was unjustified. In the interest of justice ITAT sustained CIT(A) only to the extent of a lump-sum addition of 233.87 gms of gold, valued at Rs 4,314.78 per gm as on 14.01.2022, with a rider that the order shall not be treated as precedent. en-us Tue, 26 Aug 2025 00:00:00 +0530 Tue, 11 Nov 2025 18:21:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=781249 AO treated opening gold balance of 358.87 gms (valued at Rs 15,48,446) as unexplained u/s 69B. ITAT found the assessee partly discharged the onus by showing the amount in books but failed to furnish corroborative evidence (no wealth tax return), so the Revenue's complete disbelief was unjustified. In the interest of justice ITAT sustained CIT(A) only to the extent of a lump-sum addition of 233.87 gms of gold, valued at Rs 4,314.78 per gm as on 14.01.2022, with a rider that the order shall not be treated as precedent. Case-Laws Income Tax Tue, 26 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=781249