AdvertisementNirmal Puri Vs ACIT (Delhi High Court) The Delhi High Court considered an appeal under Section 260A of the Income Tax Act challenging the concurrent findings of the Assessing Officer, the Commissioner of Income Tax (Appeals), and the Income Tax Appellate Tribunal treating 426 grams of gold bullion as unexplained. The appellant, a 70-year-old lady, contended that she lived in a joint family and had received gold ornaments and jewellery from her parents, in-laws, husband, son and other family members. It was submitted that the total gold found in the locker was 1,242 grams, comprising ornaments ...