In the result, both the Revenue’s appeal and the assessee’s cross objections are dismissed

Bench: Smt. P. Madhavi Devi & Shri S. Rifaur Rahmanassessment Year: 2012-13 Dy. Commissioner Of Vs. Sabbineni Surendra, Income Tax, No. 512/R, Road No.29, Central Circle-2(2), Jubilee Hills, Hyderabad. Hyderabad. Pan: Adqps 3461 E (Appellant) (Respondent)

capital gains income and unsecured loans 3 which were duly reflected in the statement of affairs of the relevant assessment years. He also claimed exemption towards possession of gold for the family members as per the guidelines of CBDT. The Assessing Officer, however, observed that the assessee has not adduced any evidence like bills / vouchers, bank payments etc., with regard