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2016 (12) TMI 1573 - AT - Income TaxUndisclosed jewellery - seizure of jewellery and ornaments in course of search - Held that:- seizure of jewellery and ornaments in course of search. The issue should be restored on the file of the AO for fresh consideration as the details furnished by the assessee’s during the course of hearing before us as well as the break-up of 2100 gms furnished by the assessee vide his letter dated 11.4.2012 it could not be ascertainable as to whether the ladies mentioned in the list for 2100 gms are married ladies or not. Hence, the assessee should produce details and evidences on this aspect and thereafter the AO should quantify the quantum of jewellery to be accepted per lady whether 250 gms or 500 gms and then allow benefit to the assessee accordingly. Levy of interest u/ss. 234A, 234B and 234C is mandatory and consequential in nature.
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