CBDT Instruction can not absolve persons to explain source of gold within limits specified – SC
November 12, 2026
Income Tax, Prevention of Corruption Act, Supreme Court
Mere CBDT Instructions cannot absolve individuals of their obligation to explain the source and nature of their gold holdings, even where such holdings fall within the limits specified therein. In a recent judgment, Hon’ble Supreme Court has held that merely showing certain press release and circulars permitting the …