https://www.taxtmi.com/caselaws?id=55217 The Tribunal allowed the appeals, directing the deletion of additions made by the WTO concerning gold ornaments and silver utensils in the assessee's wealth for the relevant assessment years. The Tribunal emphasized that the Revenue failed to prove ownership and possession of the assets on the valuation dates, as the assets were discovered during a search in January 1982 with no evidence of their existence in earlier years. The Tribunal held that the income tax levy on bifurcated income was insufficient to establish ownership, leading to the removal of the additions in the assessee's wealth for the disputed years. en-us Thu, 21 Feb 1991 00:00:00 +0530 Sun, 06 Feb 2011 05:23:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=55217 The Tribunal allowed the appeals, directing the deletion of additions made by the WTO concerning gold ornaments and silver utensils in the assessee's wealth for the relevant assessment years. The Tribunal emphasized that the Revenue failed to prove ownership and possession of the assets on the valuation dates, as the assets were discovered during a search in January 1982 with no evidence of their existence in earlier years. The Tribunal held that the income tax levy on bifurcated income was insufficient to establish ownership, leading to the removal of the additions in the assessee's wealth for the disputed years. Case-Laws Wealth-tax Thu, 21 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=55217