Tag: jewellery seizure

Loss of jewellery seized and kept in bank custody amounts to loss by Income Tax Authorities and payment of said jewellery has to be made by the Income Tax Authorities. In a recent judgment, Hon’ble High Court has held that the loss of jewellery seized by Income Tax …

Seizure of jewellery held valid in view of assessee’s failure to substantiate the legitimacy of jewellery, discrepancies in documentation and weight In a recent judgment, Hon’ble Calcutta High Court held that the seizure of the jewellery was valid in view of the assessee’s failure to substantiate the legitimacy …