Dismissing the appeal of the assesse following the order of for the AY. 1989-90 for which year the additions were confirmed by the court and the years under consideration, as the new evidence could not be said to be the evidence to show actual consumption of gold. The additions were held to be justified. ( AY. 1990-91 to 1994-95 )
Subodhchandra and Co. v. DCIT (2018) 402 ITR 500 (Guj) (HC)
S. 143(3): Assessment -Income from undisclosed sources — Manufacture and sale of gold ornaments -Discrepancy in recording quantity of gold- Addition was held to be justified .