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2013 (12) TMI 1512 - AT - Income TaxUnexplained investment - addition to gold jewelery - Held that:- Assessee has not offered any explanation either before the Assessing Officer or the Commissioner of Income Tax (Appeals) for excess jewellery found in the course of search as to why it should not be treated as unexplained income. The Commissioner of Income Tax (Appeals) also observed that excess jewellery is arrived only after accounting for all jewellery for which explanation has been offered and accepted. In the circumstances, we do not find any infirmity in the orders passed by the Commissioner of Income Tax (Appeals) in confirming the assessments made by the Assessing Officer. - Decided against assessee.
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