Tag: Gold jewellery ornaments holding limit

Merely because jewellery is converted into solid gold / gold biscuits, it cannot be presumed to be unexplained or in excess of permissible limit – ITAT In a recent judgment, ITAT Ranchi has held that merely because the jewellery has been converted into solid gold / gold biscuits, …

Explanation that jewellery was acquired out of agricultural income of Bigger HUF before its partition cannot be termed as not plausible – ITAT ABCAUS Case Law Citation:ABCAUS 3753 (2023) (05) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming addition …

Gold jewellery ornaments holding limit and seizure-clarification   Government of India Ministry of Finance Department of Revenue Central Board of Direct Taxes New Delhi, 01 December, 2016. PRESS RELEASE Sub: Clarifications with respect to Gold Jewellery under Income Tax Law In order to remove any doubt about the …