1985 (11) TMI 72

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....the income as long term capital gains. The ITO rejected this claim on the ground that the purchase vouchers or bills were not produced and treated the entire amount as income from other sources. 2. The AAC has confirmed the order. Before him it was urged that the assessee was 82 years old and married in 1923. The gold was in order to help the assessee's son to start a business. A photo copy of ....

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....acquired at the time of marriage, was produced. From the examination of sale vouchers, it is observed that the appellant sold 4 bangles, 2 neck laces 4 errings, 2 malas, 2 chains, 2 bajubhand, 2 lockets and 8 buttons. The weight of these ornaments has not been shown separately and instead gross weight of these ornaments is stated at 358 grams. The description of the ornaments clearly shows that th....

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....lant from other sources. Bombay High Court decision in the case of H. M. Lakhani vs. CIT (1959) 35 ITR 184 (Bom) is fully applicable to the facts of the appellant's case. Therefore, the addition made by the ITO is confirmed. 3. Before us Shir J. P. Shah argued that it was not reasonable to expect the assessee to produce purchase vouchers for the ornaments after a lapse of 60 years or so. Second....

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.... voucher has been doubted by the Department but if that was the case, the person who purchased the ornaments and issued the voucher, should have been examined by the ITO. this has not been done. Secondly the explanation of the assessee regarding his failure to produce the purchase vouchers is quite reasonable. He could not be expected to produce them after a lapse of 60 years. It is not necessary ....