IN THE HIGH COURT OF KERALA AT ERNAKULAM PRESENT : THE HONOURABLE MR. JUSTICE C.N.RAMACHANDRAN NAIR & THE HONOURABLE MR. JUSTICE T.R.RAMACHANDRAN NAIR WEDNESDAY, THE 6TH FEBRUARY 2008 / 17TH MAGHA 1929 ITA.No. 8 of 2002() ------------------- ITA.330/1996 of I.T.A.TRIBUNAL,COCHIN BENCH,COCHIN .................... APPELLANT/APPELLANTASSESSEE: --------------------------------------------- V.R.GOPALAKRISHNAN , ATTUMALI HOUSE, THATHAMPILLI, ALAPPUZHA. BY ADV. SRI.C.KOCHUNNY NAIR SRI.DALE P.KURIEN RESPONDENTS: RESPONDENT/REVENUE: -------------------------------- THE INCOME TAX OFFICER, WARD-I, ALAPPUZHA. BY ADV. SRI.GEORGE K. GEORGE, SC FOR IT THIS INCOME TAX APPEAL HAVING BEEN FINALLY HEARD ON 06/02/2008, THE COURT ON THE SAME DAY DELIVERED THE FOLLOWING: C .N. RAMACHANDRAN NAIR & T.R. RAMACHANDRAN NAIR, JJ. -------------------------------------------- I.T.A. No. 8 OF 2002 -------------------------------------------- Dated this the 6th day of February, 2008 JUDGMENT C.N. Ramachandran Nair,J. Heard counsel for the appellant and standing counsel for the department. The assessing officer for the year 1987-88 assessed the value of gold seized by the customs department from the petitioner under Section 69A of the Income Tax Act, that is unexplained money. The assessee took the stand that he is only a goldsmith and gold seized by the customs department belonged to others. Eventhough assessee adduced evidence, claims made by four persons were allowed and the balance amount which could not be proved as not belonging to the assessee was assessed. When the first appeal filed by the assessee was unsuccessful, assessee filed second appeal and an additional ground was raised before the Tribunal stating that assessment under Section 69A should be as "business income". The Tribunal found no substance in the ground because the assessee never raised such a contention 2 before the lower authorities, nor could estsablish with evidence that he was engaged in the business of gold and gold ornaments. We do not find any substantial question of law arising from the order of the Tribunal. The appeal is therefore dismissed. (C.N.RAMACHANDRAN NAIR) Judge. (T.R.RAMACHANDRAN NAIR) Judge. kk 3