https://www.taxtmi.com/caselaws?id=466460 Where cash and gold seized during search were explained as proceeds of long standing retail business and the assessee declared and paid income in returns filed in response to notice under search proceedings, the tribunal held that unexplained investment provisions do not apply and additions should not be made. The tribunal accepted that pandemic lockdowns made sudden large earnings implausible and noted absence of identifying marks on bullion to fix a purchase date. Consequently, the Assessing Officer's rejection of declared returns and invocation of special tax provisions was unwarranted and the revenue appeal was dismissed. en-us Mon, 24 Feb 2025 00:00:00 +0530 Sat, 07 Feb 2026 10:55:26 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=466460 Where cash and gold seized during search were explained as proceeds of long standing retail business and the assessee declared and paid income in returns filed in response to notice under search proceedings, the tribunal held that unexplained investment provisions do not apply and additions should not be made. The tribunal accepted that pandemic lockdowns made sudden large earnings implausible and noted absence of identifying marks on bullion to fix a purchase date. Consequently, the Assessing Officer's rejection of declared returns and invocation of special tax provisions was unwarranted and the revenue appeal was dismissed. Case-Laws Income Tax Mon, 24 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=466460