Tag: jewellery found in search
CBDT Circular though meant for non-seizure of jewellery takes into account quantity of jewellery generally held by family members of a Hindu Family ABCAUS Case Law CitationABCAUS 3482 (2021) (04) ITAT In the instant case, the assessee had challenged the order passed by the CIT(A) in confirming the …
Assessee can not be taxed for jewellery belonging to family members erroneously or under compulsion offered to tax during search ABCAUS Case Law CitationABCAUS 3414 (2020) (10) ITAT Important case law relied upon by the parties:CIT v Rakesh Ramani 94 taxmann.com 461 (Bom)(HC)/Balmukund Acharya v DCIT 310 ITR …
Addition for jewellery found in search deleted as net weight found in search was lower than jewellery found during earlier search despite minor mismatch in items of jewellery. ABACUS Case Law CitationABCAUS 3376 (2020) (08) ITAT Important case law relied upon by the parties:Krishan Kumar Modi versus ACIT …
In the absence of finding as to the year of purchase, jewellery found in locker would not represent the undisclosed income as defined in the explanation to section 271AAB of the Act ABCAUS Case Law Citation: ABCAUS 2887 (2019) (04) ITAT Important Case Laws Cited/relied upon by …
Jewellery Bills found during search-benefit of CBDT Instruction can not be denied if only bills are found and the jewellery is not available ABCAUS Case Law Citation: ABCAUS 2778 (2019) (02) ITAT Important Case Laws Cited/relied upon by the parties CIT V Rtanlal Vyaparilal Jain 339 ITR 351 …
It is common practice in Indian household that ladies share locker for keeping jewellery with family members- ITAT deletes addition made without any enquiry ABCAUS Case Law Citation: ABCAUS 2718 (2019) (01) ITAT Important Case Laws Cited/relied upon: Sunita Nigam Vs. DCIT (Central) (2018) 33 ITJ 837 …
