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2017 (8) TMI 926 - KERALA HIGH COURTAddition towards investment in gold - whether the gold in question was acquired by the assessee from out of his earnings abroad - balance of probability - ITAT deleted the addition - Held that:- We are inclined to agree with the learned counsel for the Revenue. A reading of the order of the Tribunal itself would show that while it was the burden of the assessee to prove the source of his acquisition of the gold ornaments, the Tribunal has proceeded putting the onus on the Revenue. That apart, the Tribunal has also ignored the fact that the assessee did not explain or produce any material substantiating his contention that the gold was acquired outside the country or that the acquisition was from out of his earnings. In the absence of any evidence to that effect, according to us, the Tribunal has misdirected itself in appreciating the case of the Revenue and has arrived at the impugned conclusions, which to say the least, are perverse. - Decided in favour of the Revenue and against the assessee
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